Eicher Motors gains after good motorcycle sales

Eicher Motors rose 1.35% to Rs 31,828 at 12:20 IST on BSE after the company said its total motorcycle sales rose 22% to 67,977 units in August 2017 over August 2016.

The announcement was made during market hours today, 1 September 2017.

Meanwhile, the S&P BSE Sensex was up 133.35 points, or 0.42% to 31,863.84.

On the BSE, 2,415 shares were traded in the counter so far, compared with average daily volumes of 8,360 shares in the past one quarter. The stock had hit a high of Rs 31,976.95 and a low of Rs 31,334.90 so far during the day. The stock hit a record high of Rs 32,464.95 on 8 August 2017. The stock 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 31 August 2017, rising 0.74% compared with 2.30% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.62% as against Sensex's 1.46% rise. The scrip had also outperformed the market in past one year, rising 37.82% as against Sensex's 11.63% rise.

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

Eicher Motors said total exports grew by 12% to 1,105 units in August 2017 over August 2016.

On a consolidated basis, net profit of Eicher Motors rose 22.15% to Rs 459.62 crore on 28.52% 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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