Eicher Motors fell 0.56% to Rs 19,635.25 at 15:17 IST on BSE after consolidated net profit rose 71.29% to Rs 334.50 crore on 45.78% growth in total income to Rs 3792.98 crore in quarter ended 31 March 2016 over quarter ended 31 March 2015.
The result was announced during market hours today, 5 May 2016.Meanwhile, the S&P BSE Sensex was up 155.23 points or 0.62% at 25,256.96
On BSE, so far 26,187 shares were traded in the counter as against average daily volume of 5,084 shares in the past one quarter. The stock rose as much as 1.27% at the day's high of Rs 19,999 so far during the day. The stock fell as much as 2.72% at the day's low of Rs 19,208 so far during the day. The stock had hit a 52-week low of Rs 14,498.60 on 7 May 2015. The stock had hit a record high of Rs 21,618.30 on 21 July 2015. The stock had outperformed the market over the past one month till 4 May 2016, rising 1.32% compared with Sensex's 1.17% fall. The scrip also outperformed the market in past one quarter, surging 16.56% as against Sensex's 3.14% gains.
The large-cap company has equity capital of Rs 27.16 crore. Face value per share is Rs 10.
Commenting on Royal Enfield's performance Siddhartha Lal, Managing Director & CEO, Eicher Motors said that the company will be investing Rs 600 crore towards product development, setting up of the two technical centres, in Leicestershire, UK and Chennai, India, enhancing its manufacturing capacity and market development activities across geographies. The company's immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally, Siddhartha Lal said.
Commenting on VE Commercial Vehicles (VECV)'s performance Siddhartha said that the company will be investing Rs 400 crore in VECV towards product development and capacity expansion in the year ending 31 March 2017.
Eicher Motors (EML) is the flagship company of the Eicher Group. EML is one of the leading players in the Indian automotive space. EML's joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets fuel-efficient trucks and buses. It owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India.
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