Japan-based brokerage Nomura has upgraded Eicher Motors to a 'Neutral' rating from 'Reduce' and raised its target price from Rs 4,102 to Rs 4,391
The Bullet 350 model saw 14 per cent volume drop in Q1FY25, reflecting limited acceptance of the new model. Similarly, the Hunter 350, launched in FY23, saw an 8 per cent volume decline.
Tata Motors, Mahindra & Mahindra and Ashok Leyland fell 2.19 per cent, 1.55 per cent and 2.68 per cent, respectively
Cost management helped company maintain profitability