Eicher

TVS overtakes Yamaha’s Market Capitalisation

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TVS overtakes Yamaha’s Market capitalisation to become third-largest two-wheeler maker in the world. The market capitalisation (Mcap) of Chennai-based (India) TVS Motor has surged 37% to $9.2 billion over the past six months, as per Bloomberg’s data. In contrast, Yamaha Motor saw an Mcap erosion of $1.6 billion from its August highs. Only seventeen months ago, TVS Motor Company was less than half the size of Yamaha Motor Co. Now, it has overtaken the Japanese two-wheeler giant in terms of market valuation. Investors continue to bet on a revival in both domestic and export markets, and TVS seemed the horse of choice, symbolic of its logo. BTW, Indian two-wheeler manufacturers make up four of the top five companies in the world. Bajaj Auto tops the list with a Mcap of $19 billion, followed by Eicher Motors with an $11.5 billion Mcap. Hero MotoCorp ranks fifth with a market valuation close to $8 billion. Additionally, TVS Motors has gained dominant position in EV scooters, and has managed to gain market share in every segment over the last few years. TVS makes the 310cc BMW engines and motorcycles sold in India. TVS also owns the Norton brand. US-based Harley-Davidson ranked seventh with an Mcap of $4.3 billion, three Chinese manufacturers are featured among the top ten two-wheeler makers in the world. * * * * * * * * Stay on top of the two-wheeled world, subscribe to Bikernet.com free weekly newsletter

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Enfield reports 24% drop in sales of Motorcycles in August 2019

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Eicher Motors Ltd has announced the sales figures of motorcycles for the month of August 2019. The company has sold 52,904 motorcycles during August 2019, as compared to 69,377 units in August 2018, a drop of 24% YoY. The company has sold 44694 units of models with engine capacity upto 350cc in August 2019 as against 65712 units in August 2018, registering a drop of 32% YoY. The company has sold 8210 units of models with engine capacity exceeding 350cc during August 2019 as compared to 3665 units in August 2018, a growth of 124% YoY. Exports stood at 4152 units in August 2019 as against 1363 units in August 2018, a growth of 205% YoY. Shares of EICHER MOTORS LTD. was last trading in BSE at Rs.16260.35 as compared to the previous close of Rs. 16544.4. The total number of shares traded during the day was 3816 in over 1555 trades. The stock hit an intraday high of Rs. 16652.25 and intraday low of 15985.95. The net turnover during the day was Rs. 62267233. Source: Equity Bulls

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No silver bullet in sight for Enfield hit by sliding volume

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The Eicher Motors stock fell 30 per cent in the past year. The Bullet, it appears, is just not firing on all cylinders at the moment. Royal Enfield (RE) sales are rather soft, and state-wise volume statistics furnished by industry body SIAM show that the bike that defines panache for motorcycle enthusiasts in India is riding through a rather rough patch. Eight states that make up three of every five RE bikes sold locally have reported deceleration. Maharashtra and Karnataka together account for 13 per cent of RE volumes, and these two states have seen a drop in 6-7 quarters of the past nine. Kerala, the largest market of RE, has witnessed volume drops of 13 per cent and 23 per cent in the September and December quarters, respectively. The September decline is attributed to floods. But declines in the December quarter have put the lens on underlying demand. Industry volume growth of twowheelers in south India was 9.5 per cent in the first nine months, up from 5.6 per cent in the previous year. However, RE’s sales volume growth in the Southern states has been underwhelming. The RE management has given production guidance of 8.7-8.8 lakh units for the current fiscal year. However, it is unlikely to be met. Average monthly run-rate of RE in the first 11months of FY19 stood at 69,569 units. To achieve the stated guidance, the company needs to produce 1.04 lakh vehicles in March. This appears to be quite a daunting task given the weak demand cycle. The Street is factoring in volume growth of 10 per cent for FY20, which could be trimmed due to about 3 per cent growth in FY19. The Eicher Motors stock fell 30 per cent in the past year following constant negative surprises on the volume front. The

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