Shares of Eicher Motors rose 3% in morning trading on April 3 after the company’s monthly sales soared 35%.

Eicher Motors said total commercial vehicle sales rose 35.2% to 11,906 in March from 8,803 a year earlier.

The company sold 11,263 vehicles in March 2023, compared with 7,929 a year earlier, but exports fell 36.5% to 414 vehicles from 652.

It added that in FY23, the company sold 79,623 units, up 39.5% from the previous year, with domestic sales up 53.6% to 72,827 units but exports down 41.5% to 4,933 units.

Royal Enfield, a unit of Eicher Motors, sold 72,235 motorcycles, compared with 67,677 a year earlier.

Royal Enfield’s total motorcycle sales for the financial year ending March 2023 were 8,34,895 units, an all-time high, beating the previous high set in 2018-19 and a massive 39% increase on the last financial year.

B Govindarajan, CEO of Royal Enfield, said: “Growth at Royal Enfield has been remarkable this year as we achieved new heights in sales and market share and surpassed 1 lakh international sales for the first time.”

At 9:23 am, Eicher Motors was quoted at Rs 3,025 on the BSE, up Rs 74.85, or 2.54%.

The stock will hit a 52-week high of Rs 3,886 and a 52-week low of Rs 2,311.10 on November 1, 2022, and May 9, 2022, respectively. It is now trading 22.16% below its 52-week high and 30.89% above its 52-week low.