Jefferies is bullish on these two 2-wheeler makers, sees up to 23% upside

Shares of Eicher Motors, the listed parent company of Royal Enfield, and TVS Motor Company were in focus and rallied up to 4 per cent on the BSE in Tuesday’s intra-day trade after overseas brokerage firm Jefferies said it prefer these two stocks over Bajaj Auto and Hero MotoCorp in two-wheelers (2W) segment.

Shares of Eicher Motors rallied 4 per cent to Rs 3,518.95 in intra-day trade today. Analysts believe time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.