 "Eicher Motors scrip jump over 6% on encouraging Q1 earnings")
Two-wheeler-maker Eicher Motors Ltd on Thursday joined the Rs 1 trillion market capitalisation club during the intra-day trade.
The shares of Eicher Motors - that rolls out the 350cc Bullet and other brands of higher capacity bikes - on Thursday opened at Rs 3,541.30, touched a high of Rs 3,670.90, and closed at Rs.3,622.50.
While the scrip touched a market capitalisation of Rs.1 trillion intra-day, market capitalisation at the close of trading hours was about Rs 99,059 crore.
Eicher Motors also holds majority stakes in the commercial vehicle joint venture with Volvo - VE Commercial Vehicles.
In the two-wheeler segment, Eicher Motors has been on the upswing with sales going up.
Between April-August 2022, the company has sold 312,872 units, up from 213,538 units sold during the comparable period last year.
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While the 350cc models account for the majority of the sales numbers, the sales of over 350cc bikes are growing at a faster clip.
For the first quarter of the current fiscal the company has logged revenue of Rs 3,247.94 crore and a net profit of Rs 580.17 crore.
--IANS
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