Eicher Motors lost 5.96% to Rs 17,125 at 14:10 IST on BSE after 3.81% equity changed hands in a bulk deal on BSE in opening trade today, 4 June 2015.
Meanwhile, the BSE Sensex was down 267.27 points, or 1%, to 26,569.93
Bulk deal boosted volume on the Eicher Motors scrip. On BSE, so far 12.43 lakh shares were traded in the counter, compared with an average volume of 30,340 shares in the past one quarter.
The stock was immensely volatile. The stock hit a high of Rs 17,789.45 and a low of Rs 16,905 so far during the day. The stock hit a record high of Rs 19,525 on 25 May 2015. The stock hit a 52-week low of Rs 6,811.70 on 3 June 2014.
The stock had outperformed the market over the past one month till 3 June 2015, rising 19.66% compared with 0.64% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.59% as against Sensex's 9.31% fall.
The large-cap company has an equity capital of Rs 27.14 crore. Face value per share is Rs 10.
A bulk deal of 10.34 lakh shares was executed on the Eicher Motors counter at an average price of Rs 17,400 per share in opening trade on BSE today, 4 June 2015. As per reports, Eicher Motors' partner Volvo sold its 3.71% stake in the company in bulk deal. In March 2015, Volvo had sold 4.69% stake in Eicher Motors for about Rs 1900 crore. Volvo had invested Rs 157 crore for an 8.4% stake in Eicher Motors in 2008 as part of a deal under which the Swedish company also set up a separate truck and bus making joint venture with Eicher Motors in India.
On a consolidated basis, Eicher Motors' net profit rose 40.4% to Rs 195.28 crore on 31.4% rise in total income to Rs 2601.70 crore in Q1 March 2015 over Q1 March 2014.
Eicher Motors (EML) is the flagship company of the Eicher Group, which was a catalyst in the green revolution in India with the production of India's first agricultural tractor in 1959. EML is now a leading player in the Indian automotive space. Its joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient trucks and buses; and is leading the path in driving modernization in commercial transportation in India and other developing markets. Eicher Motors also owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India.
Powered by Capital Market - Live News
