Vinod Agarwal further said that the new emission norms have not affected the company. However, due to the new rules, the price of vehicles can increase by 2 to 5 percent.
He further said that the reason for the growth in auto industries has been that for the last 2-3 years, there was a lot of sluggishness in commercial vehicle industries, but in the financial year 2022-23, commercial vehicle industries have come in growth.
There has been a spurt in the demand for commercial vehicles in the country and Eicher Motors is directly benefiting from this. February is the third consecutive month in which the company's commercial vehicle sales have been above 7000. Eicher Motors has sold 24 percent more vehicles in February this year as compared to last year.
In the month of February, 7289 vehicles were sold against 5856 on an annual basis. Talking about the company's outlook ahead, Vinod Agarwal, MD & CEO, Volvo Eicher Commercial Vehicles , tells CNBC-Awaaz that the domestic demand is very good. Good growth is being seen in all the segments of the company. However, the situation is not good on the export front.
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Vinod Agarwal further said that the new emission norms have not affected the company. However, due to the new rules, the price of vehicles can increase by 2 to 5 percent.
He further said that the reason for the growth in auto industries has been that for the last 2-3 years, there was a lot of sluggishness in commercial vehicle industries, but in the financial year 2022-23, commercial vehicle industries have come in growth. Which will continue even further.
Vinod Agarwal further said that there has been a decline in the prices of commodity prices but steel prices are still high when compared with the figures of the last 2-3 years. Margins, however, have improved due to reduction in costs.
Vinod Agarwal further said that whatever technology may come in the future. In that the company is always ready. The company is also doing a good job in electric bus. At present, 40 electric buses of the Chandigarh company are running and there has been an increase in orders for more. At the same time, we are also ready in the company Electric Truck.
What Should Be The Investment Strategy
Giving his opinion on Eicher Motors stock, Manas Jaiswal of Manasjaiswal.com says that Eicher Motors has support around Rs.3080. If the stock breaks its support level, it will decline. At present, the consolidation position remains in Eicher Motors stock. If this stock goes above Rs.3175 then it will trade bullish. So, existing investors should stick with stoploss around Rs.3080.
How has the stock fared?
Meanwhile, looking at the performance of the stock, the stock closed at Rs 3116.10 on March 10, down Rs 30.60, or 0.97 per cent, on the NSE. The 52 week high of the stock is Rs 3,889.65 while the 52 week low is Rs 2,235.80. The market cap of the company is Rs 85,219 crore. The stock has declined by about 3.00 per cent in 1 month while it has lost 3.46 per cent so far this year. At the same time, it has seen an increase of 35.31 percent in 1 year.
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