Investors on Wednesday continued to buy shares of Eicher Motors, the Royal Enfield maker, after Credit Suisse raised a traget price on the stock to Rs 10,180 (from Rs 9,000 earlier), the highest among brokerages, due to strong earnings in April-June quarter. The stock gained as much as 7.7 percent (in addition to 8 percent gain in previous session) to touch a fresh record high of Rs 9,995 on the Bombay Stock Exchange.
The brokerage maintains bullish stance on the robust growth potential for the Royal Enfield motorcycle, along with healthy margin expansion at both the businesses (motorcycle and commercial vehicle).
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