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While The S&P BSE Sensex hit a fresh lifetime high of 74,254.62 before settling at 74,014.55, higher by 363 points or 0.90%, the broader Nifty scaled 22,529.95 before closing at 22,462, up by 135.10 points or 0.61%. ....
RE’s domestic sales volume grew by 16% year-on-year to 6,30,273 units in the first nine months of the current fiscal year despite new bikes launched by Hero-Harley and Bajaj Triumph. The quarterly run-rate of the RE Classic 350 bike, the company’s highest selling bike, was 80,180 units during the period compared with 78,974 units in the comparable period a year ago. It suggests that the new bikes introduced by the competition have expanded the addressable market for RE’s premium bikes due to a strong franchise. ....
Higher freight costs due to the Red Sea crisis and stiff competition from global giants such as Harley-Davidson and Triumph are expected to dampen the company’s operating margins in the coming months. ....
The Royal Enfield motorcycle manufacturer on Tuesday reported a strong 34.4% year-on-year (YoY) growth in consolidated net profit for the quarter ended December to Rs 996 crore, and this was tad higher than an ETNow poll of Rs 969 crore. ....