Shares of Eicher Motors slipped more than 2 percent in the early trade on August 2 after the company reported weak sales in July 2019.
The company has reported 22 percent fall in its Royal Enfield July sales at 54,185 units versus 69,063 units in the same month last year.
However, the export increased 143 percent at 5,003 units against 2,062 units in July 2008.
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According to Credit Suisse, Eicher's domestic performance continued to be weak but exports have surprised positively.
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The company's trucks and buses sales declined 32.4 percent in July 2019 at 4,001 units against 5,916 units, while its domestic sales fell 28.4 percent at 3,695 units against 5,158 units.
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The exports of the company declined 59.6 percent at 306 units against 758 units, while Volvo Truck sales fell 2.1 percent at 47 units.
There was no improvement from recent trends for Royal Enfield, as volume remains sedated, said Citi.
At 0928 hrs, Eicher Motors was quoting at Rs 16,310.00, down Rs 251.50, or 1.52 percent on the BSE.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more. First Published on Aug 2, 2019 10:07 am