Eicher Motors spurts 17% in three days

Eicher Motors soared 8.47% to Rs 16,237.05, extending its winning run to third consecutive trading session amid stock-split plan.

The stock has jumped 16.7% in three trading days from its previous closing low of Rs 13,918.25 on 22 May 2020.

Eicher Motors on Monday said its board will consider sub-division of the equity shares of face value of Rs 10 each on 12 June 2020. The company will also consider Q4 March 2020 results on the same day.

The company's consolidated net profit fell 6.4% to Rs 498.70 crore on 1% rise in net sales to Rs 2,350.45 crore in Q3 December 2019 over Q3 December 2018.

Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles (VECV) - which operates in India's commercial vehicle space. VECV has a complete range of trucks and buses from 5-55 tonnes, and its integrated manufacturing plant in Pithampur, Madhya Pradesh is the global hub for medium duty five- and eight-litre engines for Volvo Group.

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