This stock is another example of how staying invested in a company for the long term can help investors get multibagger returns. On 31 August 2001, the shares were trading at ₹ 1.77 and currently, they are being traded at ₹2,660.00 levels, giving its long-term investors multibagger returns of 1,59,181.44%.
Investors who had invested ₹1,00,000 in the share in 2001 and have remained invested since then have reaped multibagger returns in a true sense. At current price levels, the value of their holdings is worth ₹ 15,92,81,440!
Its share price reached a 52-week high of ₹ 2,994.00 this year. This translates to a return of 179181.44%. Investors who had invested ₹1,00,000 in 2001 and have remained invested since then have made ₹ 17,91,81,440 over and above their investment.
Eicher Motors Limited is a part of the Eicher group and is a leading player in the Indian automobile industry. It is a global leader in middleweight motorcycles. The iconic brand Royal Enfield which is focused on mid-sized motorcycles is owned by Eicher Motors.
The company manufactures light & medium-duty trucks, heavy-duty trucks and buses, engineering components, and aggregates as well. It has three manufacturing facilities around Chennai. Further, it has 1889 dealers (989 stores and 900 studio stores) across 1550 cities.
Targets
HDFC Securities has given an ‘add’ call on the shares of Eicher Motors, with a target price of ₹2839. The shares closed at ₹2660.00 apiece on Wednesday. Therefore, this translates to an upside of 6.73%. The time period by which the share price can reach the given target is one year, as per the analyst.
Centrum broking on April 21, 2022, gave a buy call on the shares of Eicher Motors, with a target price of ₹ 3221. This translates to an upside of 21.09%. The time period given by the analyst is one year.
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
