Eicher Motors gains after reporting good sales in February

Eicher Motors rose 1.63% to Rs 16,491 at 11:45 IST on BSE after total sales of company's subsidiary, VE Commercial Vehicles rose 9.2% to 3,100 units in February 2015 over February 2014.

The company made the announcement before market hours today, 2 March 2015.

Meanwhile, the BSE Sensex was down 7.41 points, or 0.01%, to 29,359.65.

On BSE, so far 2,796 shares were traded in the counter, compared with an average volume of 4,844 shares in the past one quarter.

The stock hit a high of Rs 16,699 and a low of Rs 16,375.10 so far during the day. The stock hit a record high of Rs 17,200 on 19 February 2015. The stock hit a 52-week low of Rs 5002.90 on 3 March 2014.

The stock had underperformed the market over the past one month till 28 February 2015, falling 0.7% compared with 0.67% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.78% as against Sensex's 2.33% rise.

The large-cap commercial vehicle maker has an equity capital of Rs 27.11 crore. Face value per share is Rs 10.

Eicher Motors' subsidiary, VE Commercial Vehicles' domestic sales rose 9.6% to 2,774 units in February 2015 over February 2014. Exports rose 5.5% to 326 units in February 2015 over February 2014.

Separately, Eicher Motors said that total motorcycles sales rose 49% to 30,240 units in February 2015 over February 2014. Sales of motorcycle models with engine capacity upto 350 cc rose 50% to 26,499 units in February 2015 over February 2014. Sales of motorcycle models with engine capacity exceeding 350 cc rose 43% to 3,741 units in February 2015 over February 2014. Export sales rose 49% to 749 units in February 2015 over February 2014.

Eicher Motors' consolidated net profit rose 59.8% to Rs 153.77 crore on 36.3% rise in total income to Rs 2308.86 crore in Q4 December 2014 over Q4 December 2013.

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