Eicher heads north on buzz of bid to acquire Ducati

Eicher Motors rose 2.24% to Rs 32,760 at 10:10 IST on BSE on reports the company is preparing an offer to acquire superbike major Ducati for $1.8 to 2 billion.

Meanwhile, the S&P BSE Sensex was up 69.69 points or 0.22% at 31,731.66.

On the BSE, 2,205 shares were traded on the counter so far as against the average daily volumes of 8,385 shares in the past one quarter. The stock had hit a high of Rs 32,856 so far during the day, which is a record high. The stock hit a low of Rs 32,364.80 so far during the day. The stock had hit a 52-week low of Rs 19,570.90 on 15 November 2016.

The stock had outperformed the market over the past one month till 6 September 2017, advancing 1.42% compared with the Sensex's 2.05% fall. The stock had also outperformed the market over the past one quarter, gaining 9.64% as against the Sensex's 1.51% rise. The scrip had also outperformed the market over the past one year, advancing 39.48% as against the Sensex's 9.26% rise.

The large-cap company has equity capital of Rs 27.22 crore. Face value per share is Rs 10.

On a consolidated basis, net profit of Eicher Motors rose 22.1% to Rs 459.62 crore on 28.5% rise in net sales to Rs 1991.78 crore in Q1 June 2017 over Q1 June 2016.

Eicher Motors is a leading player in the Indian automotive space. Eicher Motors owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. The company's joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets trucks and buses. The company's joint venture with US-based Polaris Industries Inc launched the Multix, a new 3-in-1 vehicle purpose built for the independent businessman in June 2015.

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