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| Eicher Motors, which has been on the look out for alliances in the commercial vehicle (CV) space, will hold a board meeting on Monday to discuss a proposal for the same. |
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| The Eicher management, however, refused to disclose the name of the company. |
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| "The proposal is for a strategic partnership for commercial vehicles as well as an allied business," an Eicher said in a release to the Bombay Stock Exchange. |
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| Sources indicate that Swedish bus major Volvo is presently holding talks with the company. Mahindra International, Renault and Daimler are also learned to be in the race. |
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| When contacted, the Eicher Motors spokesperson said, "I cannot comment on any of the names floating around for the alliance. We will come to a conclusion only after our board meeting is held. We will be in a position to make an announcement then." |
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| Top company officials from the Delhi-based company had earlier said that it would be unlikely that Eicher would divest a majority stake, but may consider a minority stake sale. |
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| The company is looking to create a brand name for itself in the local market. The Lal family, the lead promoters of the company, currently hold 61 per cent. |
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| Eicher had first expressed interest in forging alliance in July this year or a strategic partnership to become a full-range CV player. The company, which makes light and medium weight trucks, wants to get into the heavy truck segment as has seen good growth in recent months. |
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| The company had earlier agreed to hold talks with various key international and domestic players to further the CV foray plans. |
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| Eicher, which is India's third largest commercial vehicle manufacturer, generated revenues of nearly Rs 2,000 crore last financial year and aims to grab a large chunk of the Rs 30,000-crore heavy truck market, a preserve of Tata Motors and Ashok Leyland. |
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| Buzz about the talks pushed the Eicher stock 8.22 per cent up to close at Rs 545.45 on the Bombay Stock Exchange today. |
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| LOOING FOR A BIGGER PIE |
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The Lal family-owned Delhi-based company may consider a minority stake sale
By joining hands with a partner, Eicher is trying to become a full-range CV player
Eicher, India's third largest commercial vehicle manufacturer, generated Rs 2,000 crore revenue last financial year |
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