India's Eicher Motors was on course for its best day since mid-2020, after the Royal Enfield motorcycle maker posted a quarterly profit beat, which analysts said indicated that the "toughest phase" of competition was over.

India's Eicher Motors , which makes the Royal Enfield brand of motorcycles, reported a bigger-than-expected quarterly profit on Wednesday, helped by increased sales of its higher-powered models such as the 'Scram 411'.

Eicher Motors shares rose nearly 8% to ₹4,940 after reporting a higher-than-expected quarterly profit, driven by strong sales of higher-margin motorcycles. Brokerages maintained positive ratings, with Jefferies projecting a target of ₹5,

During the quarter, Royal Enfield recorded sales of 2,25,317 motorcycles as compared to 2,29,496 motorcycles sold during the same period in FY 2023-24, said the company in a stock exchange filing today.