Eicher Motors scales record high on good Q2 outcome

Eicher Motors gained 3.69% to Rs 4,160 at 09:48 IST on BSE after consolidated net profit rose 62.75% to Rs 107.43 crore on 16.16% rise in total income to Rs 1751.33 crore in Q2 September 2013 over Q2 September 2012.

The result was announced after market hours on Thursday, 7 November 2013.

Meanwhile, the S&P BSE Sensex was down 49.63 points, or 0.24%, to 20,773.14

On BSE, 2,333 shares were traded in the counter as against an average daily volume of 3,905 shares in the past one quarter.

The stock hit a record high of Rs 4,249 in intraday trade today, 8 November 2013. The stock hit a low of Rs 4,122 so far during the day. The stock had hit a 52-week low of Rs 2,280.05 on 12 November 2012.

The stock outperformed the market over the past one month till 7 November 2013, rising 6.68% compared with the Sensex's 4.66% gain. The scrip also outperformed the market in past one quarter, rising 25.35% as against Sensex's 11.56% advance.

The mid-cap company has an equity capital of Rs 27.01 crore. Face value per share is Rs 10.

Eicher Motors, is the flagship company of the Eicher Group in India and a leading player in the Indian automobile industry. Its 50-50 joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient commercial vehicles of high quality and modern technology, engineering components and provides engineering design solutions. Eicher Motors manufactures and markets the iconic Royal Enfield motorcycles.

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