Eicher Motors jumps after good motorcycle sales

Eicher Motors rose 4.56% to Rs 31,410.70 at 15:09 IST on BSE after the company said its total motorcycle sales rose 21% to 64,459 units in July 2017 over July 2016.

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

Meanwhile, the S&P BSE Sensex was up 60.33 points, or 0.19% to 32,575.27.

On the BSE, 6,137 shares were traded in the counter so far, compared with average daily volumes of 8,498 shares in the past one quarter. The stock had hit a high of Rs 31,429 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 30,100 so far during the day. 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 July 2017, rising 11.21% compared with 5.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.58% as against Sensex's 8.67% rise. The scrip had also outperformed the market in past one year, rising 34.72% as against Sensex's 16.11% 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 4% to 1,302 units in July 2017 over July 2016.

Eicher Motors' consolidated net profit rose 33.9% to Rs 459.44 crore on 22.9% rise in net sales to Rs 1876.54 crore in Q4 March 2017 over Q4 March 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.

Powered by Capital Market - Live News