Eicher Motors gains 3%, nears record high on healthy demand outlook

The stock has rallied nearly 20% in the past one month on expectation of a strong pick-up in demand on the back of upcoming new launches

Shares of Eicher Motors, manufacturer of motorcycle iconic brand Royal Enfield, hit an over four-year high of Rs 3,179.15, as the stock gained 3 per cent on the BSE in Friday's intra-day trade on healthy demand outlook. The stock has been gaining  momentum on expectation of a strong pick-up in demand amid new launches during upcoming festive season.

The stock of the automobile company, engaged in the manufacturing of motorcycles and commercial vehicles, was trading at its highest level since April 2018. It was near its record high level of Rs 3,348, hit on September 8, 2017. In the