Eicher Motors gains after subsidiary's strong sales in December

Eicher Motors rose 1.43% to Rs 15,319 at 13:13 IST on BSE after the company said the total sales of its subsidiary VE Commercial Vehicles rose 20.7% to 3,387 units in December 2014 over December 2013.

The annoucement was made during market hours today, 1 January 2015.

Meanwhile, the S&P BSE Sensex was down 55.66 points or 0.2% at 27,443.76.

On BSE, so far 2,589 shares were traded in the counter as against average daily volume of 4,709 shares in the past one quarter.

The stock hit a high of Rs 15,350 and a low of Rs 14,975.20 so far during the day. The stock had hit a record high of Rs 15,773.30 on 4 December 2014. The stock had hit a 52-week low of Rs 4,405 on 12 February 2014.

The stock had outperformed the market over the past one month till 31 December 2014, advancing 4.04% compared with the Sensex's 4.16% fall. The scrip had also outperformed the market in past one quarter, surging 25.99% as against Sensex's 3.26% rise.

The large-cap company has equity capital of Rs 27.10 crore. Face value per share is Rs 10.

VE Commercial Vehicles' domestic sales rose 26.6% to 3,002 units in December 2014 over December 2013. Exports declined 11.5% to 385 units in December 2014 over December 2013.

On a consolidated basis, net profit of Eicher Motors rose 53.6% to Rs 165.03 crore on 35.5% growth in net sales to Rs 2251.25 crore in Q3 September 2014 over Q3 September 2013.

Eicher Motors, the flagship company of the Eicher Group, is a leading player in the Indian automotive space. Its 50-50 joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient trucks and buses. Eicher Motors also owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India.

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