Home / BUSINESS / Eicher Motors rides high despite its JV reports 43% fall in September sales

Eicher Motors rides high despite its JV reports 43% fall in September sales

Eicher Motors is currently trading at Rs. 17870.75, up by 93.40 points or 0.53% from its previous closing of Rs. 17777.35 on the BSE.

The scrip opened at Rs. 18117.95 and has touched a high and low of Rs. 18258.00 and Rs. 17589.25 respectively. So far 6635 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 25300.00 on 19-Nov-2018 and a 52 week low of Rs. 15196.95 on 26-Aug-2019.

Last one week high and low of the scrip stood at Rs. 18514.90 and Rs. 17375.00 respectively. The current market cap of the company is Rs. 48710.68 crore.

The promoters holding in the company stood at 49.31%, while Institutions and Non-Institutions held 37.95% and 12.74% respectively.

VE Commercial Vehicles, a joint venture (JV) between Eicher Motors and Volvo Group, has reported sales of 3784 units in September 2019 as compared to 6663 units in September 2018, registering a fall of 43.2%.

Eicher branded trucks and buses recorded total sales of 3673 units in September as compared with 6588 units in the year-ago month, down 44.2%. In the domestic market, sales of Eicher branded trucks and buses were at 3140 units in September 2019, down 44.8% from 5685 units sold in the same month a year ago.

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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