Eicher Motors drops after recent steep rally

Eicher Motors lost 1.46% to Rs 5500.65 at 15:03 IST on BSE, with the stock sliding on profit booking after recent steep rally.

Meanwhile, the S&P BSE Sensex was up 226.68 points or 1.07% at 21,503.54.

On BSE, so far 1,598 shares were traded in the counter as against average daily volume of 4,083 shares in the past one quarter.

The stock was volatile. The stock lost as much as 1.6% at the day's low of Rs 5,492.55 so far during the day. The stock rose as much as 2.11% at the day's high of Rs 5,700 so far during the day. The stock had hit a record high of Rs 5701.35 on Wednesday, 5 March 2014. The stock had hit a 52-week low of Rs 2,512 on 28 March 2013.

The stock had outperformed the market over the past one month till 5 March 2014, surging 22.84% compared with the Sensex's 5.01% rise. The scrip had also outperformed the market in past one quarter, jumping 16.87% as against Sensex's 1.52% rise.

The large-cap company has equity capital of Rs 27.05 crore. Face value per share is Rs 10.

Shares of Eicher Motors had rallied 15.68% in six trading sessions to settle at Rs 5,582.15 on Wednesday, 5 March 2014 from a recent low of Rs 4,825.35 on 24 February 2014.

Eicher Motors' consolidated net profit surged 32.4% to Rs 96.25 crore on 2.1% growth in net sales to Rs 1663.96 crore in Q4 December 2013 over Q4 December 2012.

Eicher Motors, is the flagship company of the Eicher Group in India and a leading player in the Indian automobile industry. Its 50-50 joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient commercial vehicles of high quality and modern technology, engineering components and provides engineering design solutions. Eicher Motors manufactures and markets the iconic Royal Enfield motorcycles.

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