MARKET EYE-Eicher Motors shares rise on Royal Enfield hopes

Tue Nov 20, 2012 12:35pm IST

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* Shares in Eicher Motors gained 3.5 percent on hopes
of strong demand at its two-wheeler unit Royal Enfield this
festive season, dealers said.
* Macquarie initiated its coverage on Eicher Motors on Monday
with an "outperform" rating and set a target of 3,235 rupees. 
* Macquarie said it sees capacity expansion in motorcycles,
market share gain in heavy trucks and the start of production of
Volvo's medium-duty engines to be the key drivers of growth.
* Eicher has a 50-50 joint venture in India with Volvo AB
 

 (manoj.dharra@thomsonreuters.com)
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