(Reuters) -Shares of India's Eicher Motors jumped 7% on Thursday, set for their best day in a year, after the motorcycle maker's better-than-expected quarterly profit indicated, according to analysts,

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

Eicher Motors recorded a standalone net profit of Rs 1010 crore in the second quarter of 2024. Revenue rose to Rs 4,205 crore. Royal Enfield sold 2.25 lakh motorcycles. The company launched two electric motorcycle models under the brand Flying Flea.

Shares of India's Eicher Motors jumped 7% on Thursday, set for their best day in a year, after analysts said its second-quarter results indicated that the toughest phase of competition for the 'Royal Enfield' motorcycle manufacturer was now behind it.

Eicher Motors' revenue from operations during the second quarter climbed to Rs 4,263 crore, marking a jump of 3.6% as against Rs 4,115 crore in the corresponding period of the past fiscal. This is, however, lower than the Bloomberg estimate of Rs 4,414 crore.

Analysts say Enfield's renewed ‘focus over margins’ with intervention like relaunch of Battalion Black edition, higher marketing aided strong festive sales