Eicher Motors gains after subsidiary, VE CVL reports good sales in September

Eicher Motors rose 1.74% to Rs 18,100 at 14:30 IST on BSE after company's subsidiary, VE Commercial Vehicles reported 27.72% rise in total sales to 4,248 units in September 2015 over September 2014.

The announcement was made during market hours today, 1 October 2015.

Meanwhile, the BSE Sensex was up 57.65 points, or 0.22%, to 26,212.48.

On BSE, so far 6,770 shares were traded in the counter, compared with an average volume of 8,494 shares in the past one quarter.

The stock hit a high of Rs 18,215 and a low of Rs 17,635.90 so far during the day. The stock hit a record high of Rs 21,618.30 on 21 July 2015. The stock hit a 52-week low of Rs 10,860 on 16 October 2014.

On a consolidated basis, Eicher Motors' net profit rose 40.9% to Rs 221.83 crore on 29.2% growth in total income to Rs 2923.48 crore in Q2 June 2015 over Q2 June 2014.

Eicher Motors (EML) is the flagship company of the Eicher Group. EML is one of the leading players in the Indian automotive space. EML's joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets fuel-efficient trucks and buses. It owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India.

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