Eicher Motors slips after bulk deal

Eicher Motors lost 2.42% to Rs 4,800 at 14:03 IST on BSE, after 0.068% equity changed hands in a bulk deal on BSE today, 5 December 2013.

A bulk deal of 18,500 shares was executed on the Eicher Motors counter at Rs 4,819 per share at 12:02 IST on BSE today, 5 December 2013.

Meanwhile, the S&P BSE Sensex was up 257.17 points or 1.24% at 20,965.88

On BSE, 21,707 shares were traded in the counter as against average daily volume of 4,964 shares in the past one quarter.

The stock hit a high of Rs 4,975 and a low of Rs 4,770 so far during the day. The stock had hit a record high of Rs 5,294.95 on Tuesday, 3 December 2013. The stock had hit a 52-week low of Rs 2,512 on 28 March 2013.

The stock had outperformed the market over the past one month till 4 December 2013, rising 24.2% compared with the Sensex's 2.5% fall. The scrip had also outperformed the market in the past one quarter, advancing 55.72% as against Sensex's 11.53% surge.

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

Shares of Eicher Motors were on a roll recently, gaining 10.42% in three trading sessions to settle at Rs 5,141.70 on Tuesday, 3 December 2013, from a recent low of Rs 4,656.25 on 28 November 2013. The gains materialised after a foreign brokerage on 26 November 2013 upgraded the Eicher Motors stock to buy from underperform citing higher earnings forecasts due to an improved performance from the motorcycle division. The stock lost 4.34% to Rs 4,918.80 on Wednesday, 4 December 2013 on profit booking after recent upmove.

Eicher Motors' consolidated net profit rose 62.7% to Rs 107.43 crore on 13% growth in net sales to Rs 1661.64 crore in Q3 September 2013 over Q3 September 2012.

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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