Citigroup Global buys 2.64 lakh shares of Eicher Motors
Published On Jun 08, 2015
Volvo AB, a global automotive company, had recently exited its shareholding of Eicher Motors Limited. The company had commanded a 3.7 percent stake over Eicher, which amounted to a total of above a million shares. The value set for the shares, as per the BSE, was Rs. 17,214.34 .
Out of the million shares, 264 818 were bought by Citigroup Global Markets Private Limited, at the price of Rs. 17,190. With this investment, market sources believe that the company's share will surge upwards in the coming seasons.
Following this, Eicher Motors' share value ended at Rs,17,182.35, falling by 1027.40 Rs or 5.64 percent on the BSE. however, we can expect a turnaround in the coming season.
The company had its 12-month EPS at Rs. 225.39 per share, and the stock's price to earnings ratio stood at Rs. 76.23. At the current value, its price to book value stands at Rs. 37.8, and its dividend yield comes to 0.29 percent.
Eicher Motors is one of India's leading auto firms. It was founded in 1948 and over the years, it has emerged as one of the country's most trusted brands in the auto field. Today it has a decent share of the commercial vehicles' market in the nation, and is listed on the National Stock Exchange and the Bombay Stock Exchange. The company operates with a total employee base of 2500 trained professionals.