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Eicher Motors gains as its JV starts production at new truck plant in Bhopal

Eicher Motors is currently trading at Rs. 2560.30, up by 10.65 points or 0.42% from its previous closing of Rs. 2549.65 on the BSE.

The scrip opened at Rs. 2570.00 and has touched a high and low of Rs. 2578.80 and Rs. 2556.00 respectively.

The BSE group ‘A’ stock of face value Rs.1 has touched a 52 week high of Rs. 2556.00 on 25-Nov-2020 and a 52 week low of Rs. 1,246.00 on 07-Apr-2020.

Last one week high and low of the scrip stood at Rs. 2596.70 and Rs. 2508.00 respectively. The current market cap of the company is Rs. 70,042.97 crore.

The promoters holding in the company stood at 49.25%, while institutional and non-institutional held 38.25% and 12.50%, respectively.

Eicher Motors and Volvo Group’s joint venture (JV) — VE Commercial Vehicles (VECV) has started the commercial operations at its new, state-of-the-art truck manufacturing unit at Bagroda, Bhopal. This is the 8th manufacturing facility of VECV in the state of Madhya Pradesh and has been set up with Industry 4.0 standards.

With the setting up of this plant at Bagroda Industrial Area, Bhopal, VECV becomes the pioneer company in development of a new Industrial Estate at Bagroda. With this plant, a number of ancillary units are expected to come to Bagroda and this holds a very bright future for the development of this area as well as for creation of employment opportunities for the local people.

Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.

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