Eicher Motors' shares jump after VECV reports good September sales
Published On Oct 07, 2015
Eicher Motors is one of the leading players in the Indian commercial vehicles domain. Besides conducting operations through its own marque, the company also distributes trucks through a joint venture with Volvo, termed as Volvo Eicher Commercial Vehicles Ltd. At the starting of the month, VE Commercial Vehicles revealed a solid sales report for the month of September. They sold 4248 vehicles recording a 27.72% year on year growth over the same period for the last year.
As the announcement came, Eicher Motors' shares spiked by 1.74%, touching a value of Rs. 18,100 on the BSE. While this occurred, the BSE Sensex had risen by 57.65 points, or 0.22%, coming to 26,212.48.
On the BSE, 6,770 shares of the CV maker were exchanged, against the average volume of 8,494 shares over the past quarter. The stock surged to a peak of Rs. 18,215 and touched its lowest at Rs. 17,635.90 during that day. It had climbed to its 52-week high of Rs. 21,618.30 on 21 July 2015, and met its 52-week low of Rs. 10,860 on 16 October 2014. The company's net profit jumped by 40.9% over last year, reaching Rs. 221.83 crore.
