NSE:EICHERMOT

Eicher Motors Gets INR16 Million Demand Order from Customs Office in Kolkata, India

Eicher Motors (NSE:EICHERMOT, BOM:505200) has received a demand order worth 16.4 million Indian rupees from the Office of the Principal Commissioner of Customs in Kolkata, West Bengal, India, according to a Thursday filing to the Indian stock exchanges.The demand relates to preferential tariff exemption claimed by the company on import of goods for one shipment in 2020.As per the agrimachinery and tractor company's assessment, the demand by the customs office is not maintainable and that it is evaluating all options including filing an appeal against the order.Eicher doesnt' expect any relevant impact on financials, operations or other activities of the company due to this order.

Eicher Motors' Royal Enfield Posts 15% Rise in Motorcycle Sales in May

Eicher Motors (NSE:EICHERMOT, BOM:505200) motorcycle division Royal Enfield recorded a 15% jump in its total sales volume in May to 103,231 units from 89,429 units sold a year ago, according to a Monday filing to the Indian stock exchanges.Domestic sales in May rose 24% year-on-year to 94,115 units, while exports fell 33% to 9,116 units, the filing said.

Eicher Motors Commercial Vehicles Arm Reports 7.8% Higher Sales in May

Eicher Motors (NSE:EICHERMOT, BOM:505200) subsidiary, VE Commercial Vehicles, reported a 7.8% increase in its total sales in May to 7,978 units from 7,401 units sold a year ago, according to an Indian bourse filing on Monday.Domestic sales were up 9.1% year on year to 7,375 units, while exports plunged over 17% to 414 units.

Mirae Asset Securities Upgrades Eicher Motors to Buy from Add; Price Target is INR8,238

Nomura Adjusts Eicher Motors' Price Target to INR7,878 From INR7,827, Keeps at Neutral

Eicher Motors (NSE:EICHERMOT, BOM:505200) has an average rating of overweight and mean price target of 7,854.21 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Eicher Motors, Volvo Group to Set Up Vehicle Financing JV in India

Eicher Motors (NSE:EICHERMOT, BOM:505200) and Volvo Group plan to form a 50:50 joint venture for vehicle financing, leasing and related financial services in India, according to an Indian bourse filing on Thursday.Shares of Eicher Motors rose nearly 1% in early trade on Friday.Eicher Motors' board approved an investment of up to 7.50 billion Indian rupees to acquire a 50% stake in Volvo Financial Services India, captive finance provider of Volvo Group, the filing said.The JV will act as the captive financing arm for products sold by Volvo Eicher Commercial Vehicles, Eicher Motors and Volvo Group in India, it added.

Eicher Motors' Royal Enfield Posts 31% Rise in Total Motorcycle Sales in April

Eicher Motors' (NSE:EICHERMOT, BOM:505200) motorcycle division Royal Enfield, booked a 31% jump in its total sales volume to 113,164 units in April from 86,559 units sold a year ago, according to a Friday filing to the Indian stock exchanges.Shares of the company rose nearly 3% in Monday's trade.Domestic sales in April soared 37% year-on-year to 104,129 units, while exports fell 14% to 9,035 units, the filing said.

Eicher Motors' Commercial Vehicles Arm Reports 7% Higher Sales in April; Shares Up 3%

Eicher Motors' (NSE:EICHERMOT, BOM:505200) subsidiary, VE Commercial Vehicles, reported nearly 7% increase in its total sales in April to 7,318 units from 6,846 units sold a year ago, according to an Indian bourse filing on Friday.Domestic sales were up nearly 9% year on year to 6,797 units, while exports plunged over 21% to 362 units.Shares of Eicher Motors rose over 3% in Monday's trade.