Deutsche Securities hikes stake in Eicher to 5.17%

Foreign fund house Deutsche Securities Mauritius has hiked its stake in commercial-vehicle maker Eicher Motors to 5.17%, after purchasing fresh shares through an open-market transaction.      

The fund house purchased 1,22,000 shares representing 0.46% stake in Eicher Motors, the car maker said in a disclosure on the Bombay Stock Exchange.      

Calculated on the basis of the April 23 closing price (Rs 199.90) of Eicher Motors on the NSE, the stake purchase might have cost around Rs 2.44 crore to Deutsche Securities.      

Prior to the purchase, the fund house held a 4.17% stake, while now it holds 5.17% which represents over 13 lakh shares of Eicher Motors.      

Shares of Eicher Motors were trading at Rs 200.20, up 0.93% on the BSE.