Eicher Motors jumped 5.85% to Rs 8,660 at 14:06 IST on BSE, with the stock extending recent gains.
Meanwhile, the BSE Sensex was up 9.12 points, or 0.04%, to 25,850.33
On BSE, so far 1,104 shares were traded in the counter, compared with an average volume of 2,567 shares in the past one quarter.
The stock hit a high of Rs 8,679.15 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 8,288.65 so far during the day. The stock hit a 52-week low of Rs 2,975 on 21 August 2013.
The stock had outperformed the market over the past one month till 2 July 2014, rising 19.28% compared with 4.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.41% as against Sensex's 14.59% rise.
The large-cap company has an equity capital of Rs 27.09 crore. Face value per share is Rs 10.
Shares of Eicher Motors have gained 20.48% in six trading days from a recent low of Rs 7,187.35 on 25 June 2014. The upmove was boosted by the company reporting strong sales in June 2014 during market hours on Wednesday, 2 July 2014.
Eicher Motors' total motorcycle sales surged 83% to 25,303 units in June 2014 over June 2013. Eicher Motors' motorcycle sales for models with engine capacity upto 350cc jumped 80% to 22,073 units in June 2014 over June 2013. Eicher Motors' motorcycle sales for models with engine capacity exceeding 350cc jumped 106% to 3,230 units in June 2014 over June 2013. Exports rose 60% to 784 units in June 2014 over June 2013.
Eicher Motors' total motorcycle sales surged 85% to 1.38 lakh units in year to date period from January to June 2014 over January to June 2013. During this period, motorcycle sales for models with engine capacity upto 350cc jumped 85% to 1.21 lakh units while motorcycle sales for models with engine capacity exceeding 350cc jumped 89% to 17,313 units. Exports rose 58% to 3373 units in year to date period from January to June 2014 over January to June 2013.
Eicher Motors' consolidated net profit surged 42% to Rs 139.12 crore on 11.2% growth in net sales to Rs 1899.91 crore in Q1 March 2014 over Q1 March 2013.
Eicher Motors, is the flagship company of the Eicher Group in India and a leading player in the Indian automobile industry. Its 50-50 joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient commercial vehicles of high quality and modern technology, engineering components and provides engineering design solutions. Eicher Motors manufactures and markets the iconic Royal Enfield motorcycles.
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