Eicher Motors up 10.66% on new tipper rollout launch

DALAL STREET SPIKES

Eicher Motors gained 10.66 per cent to close at Rs 253.9 after it announced the launch of a 16-tonne tipper in Chennai. 1.48 lakh shares changed hands on the BSE.

The scrip gained following the company's launch of Eicher Terra 16, a 16-tonne tipper in Chennai on Friday. The scrip has gained 13.27 per cent since January 2, 2006.

The Eicher Terra 16 will be initially available in Chennai, Goa and Cochin and will be launched in other key markets in a phased manner.

According to the company Terra 16 offers gradability with high pick-up, which was introduced after extensive research and elaborate procedures and is extremely suitable for sectors like mining, construction and other off-road applications.

The next product to be launched from the company's stable is the trailer trucker and the tripper of heavier tonnage which are still in the designing stage.

The company posted a decline in its net profit by 29.4 per cent to Rs 14.35 crore for the quarter ended December 2005 compared with the same quarter last year. Net sales also declined by 26.70 per cent to Rs 389.97 crore compared with the same period last year.