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    505200   INE066A01021

EICHER MOTORS LIMITED

(505200)
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Indian shares end lower as IT, auto drag

11/24/2021 | 05:44am EST
A bird flies past the Bombay Stock Exchange building in Mumbai

BENGALURU (Reuters) - Indian shares erased early gains to end Wednesday lower, as auto, IT and consumer stocks fell, outweighing gains in the energy and banking sectors.

The blue-chip NSE Nifty 50 index ended 0.5% lower at 17,415.05, while the benchmark S&P BSE Sensex fell 0.5% to 58,340.99.

A jittery broader Asian market also dented sentiment as oil prices remained volatile in the face of price-cooling moves by the United States and other countries, and amid concerns the U.S. Federal Reserve could speed up tapering of stimulus. [MKTS/GLOB]

"The market tried to consolidate after a fall earlier this week, but it looks like it was not able to hold gains, mainly due to global triggers," said Narendra Solanki, Head-Equity Research at Anand Rathi Shares & Stock Brokers.

Automobile stocks were likely reacting to automakers' lack of confidence on demand picking up in November and December, Solanki added.

Auto stocks fell 1.28%, dragged lower by Eicher Motors and Maruti Suzuki, down 2.39% and 2.34% respectively.

The Nifty IT index fell 1.52%, led by losses in Infosys Ltd, Larsen and Toubro Infotech and MindTree Ltd, all down between 2.3% and 3.4%.

The fast-moving consumer goods sub-index was down nearly 1% on concerns over rising commodity prices impacting margins.

Nifty Energy was among sub-indexes that held on to gains, ending up 0.27%, with oil prices in focus after India said it would sell 5 million barrels from its reserves in tandem with other major countries to control prices.

State-run Oil and Natural Gas Corporation was the top gainer on the sub-index, rising 4.26%.

Digital payments start-up Paytm rose 17.2%, climbing for a second day on Wednesday.

Globally, investors have been focusing on rising COVID-19 cases in Europe, weaker economic sentiment in Germany, inflation concerns and a bagful of U.S. data ahead of Thanksgiving.

(Reporting by Vishwadha Chander in Bengaluru; editing by Uttaresh.V and Vinay Dwivedi)

By Vishwadha Chander


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EICHER MOTORS LIMITED -0.92% 2708.9 End-of-day quote.4.59%
INFOSYS LIMITED -2.08% 1785.7 Delayed Quote.-5.41%
LARSEN & TOUBRO INFOTECH LIMITED -3.22% 6393.8 Delayed Quote.-12.80%
MARUTI SUZUKI INDIA LTD 1.91% 8189.6 Delayed Quote.10.28%
MINDTREE LIMITED -3.11% 4118.85 Delayed Quote.-13.83%
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Analyst Recommendations on EICHER MOTORS LIMITED
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Financials
Sales 2022 105 B 1 413 M 1 413 M
Net income 2022 18 362 M 247 M 247 M
Net cash 2022 88 498 M 1 190 M 1 190 M
P/E ratio 2022 40,3x
Yield 2022 0,71%
Capitalization 741 B 9 966 M 9 956 M
EV / Sales 2022 6,20x
EV / Sales 2023 4,65x
Nbr of Employees 5 005
Free-Float -
Chart EICHER MOTORS LIMITED
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Eicher Motors Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends EICHER MOTORS LIMITED
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 38
Last Close Price 2 708,90 INR
Average target price 2 826,61 INR
Spread / Average Target 4,35%
EPS Revisions
Managers and Directors
Siddhartha Vikram Lal Chief Executive Officer, MD & Director
Kaleeswaran Arunachalam Chief Financial Officer
Srinivasan Sandilya Non-Executive Chairman
Manhar Kapoor Secretary, Compliance Officer & General Counsel
Manvi Sinha Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
EICHER MOTORS LIMITED4.59%9 966
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