Eicher Motors slips on profit booking

Eicher Motors fell 2.18% to Rs 17,125.05 at 15:17 IST on BSE on profit booking after the stock rose 5.92% in the preceding three trading sessions to Rs 17,506.25 yesterday, 4 January 2016, from a recent low of Rs 16,527.35 on 30 December 2015.

Meanwhile, the BSE Sensex was down 42.07 points, or 0.16%, to 25,581.28.

On BSE, so far 4,103 shares were traded in the counter, compared with an average volume of 4,827 shares in the past one quarter. The stock hit a high of Rs 17,766.90 and a low of Rs 17,125.05 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 13,930 on 27 April 2015. The stock had outperformed the market over the past one month till 4 January 2016, rising 6.65% compared with 0.06% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 4.18% as against Sensex's 2.28% fall.

The large-cap company has an equity capital of Rs 27.15 crore. Face value per share is Rs 10.

On a consolidated basis, Eicher Motors' net profit rose 54.8% to Rs 255.46 crore on 36.6% growth in net sales to Rs 3074.35 crore in Q3 September 2015 over Q3 September 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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