Eicher Motors, the maker of the Royal Enfield brand, declined more than 6% on Tuesday. During the day, the stock touched an intraday low of 3,404.10. The slide is attributed to the launch of a luxury bike by rival Hero Motocorp in partnership with Harley Davidson. The ex-showroom price of this 440 cc motorcycle has been fixed at Rs 2.29 lakh.After the Street 750, this is the smallest and cheapest motorcycle from Harley Davidson. . Now the problem for Eicher Motors is that the X440 will compete with the recently launched Hunter 450 from Royal Enfield.
HMA Agro lists at 7% premium on NSE
HMA Agro Industries, a company involved in export of Frozen Meat and Buffalo meat, listed on the stock market with a 7% premium on NSE. The scrip opened at Rs 625 on NSE and Rs 615 on BSE against the issue price of Rs 585. The stock touched an intra-day high of 670.45 rupees up 14.5%. But the share lost its gains enclosed at 585.65. This issue did not get a very good response and was subscribed only 1.62 times. Analysts believe that this stock should be held for at least 2-3 quarters before offloading so that one can get a fair idea about its financial results and growth. The fundamentals of this company are strong and the business model is niche, which means it is quite different from other companies. About 90 percent of the company’s income comes from exports.
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