Eicher Motors shares rise 13 percent


Eicher Motors shares rise 13 percent
Bangalore: Eicher Motors stock was among the top gainers after its price went up by 13 percent. After opening the day at 1065, the stock touched its 52 week high of 1222.40, before closing trade at 1058.35, with a gain of 13.37 percent. Through the day, 287098 shares of Eicher Motors were traded in the market with the P/E ratio of 56.78. The 52 week stock price chart is on the left. Eicher Motors is an India-based company engaged in the business of automobile products and related components. The Company's product range includes commercial vehicles (Eicher and Volvo trucks), motorcycles, and components, including gears and engineering solutions. The Company operates in the leisure cruiser segment with engine capacity of 350 circuit current (cc) and above. During the year ended December 31, 2009, the Company sold 51,955 motorcycles. Some of its subsidiaries include VE Commercial Vehicles, Eicher Engineering Solutions, Hoff Automotive Design Company and Hoff Technology Service Company. Eicher Motors has posted a net profit of 55.18 crore for the quarter that ended in 30th June, 2010 which is almost three times of the net profit figure of the similar quarter in the last fiscal. The company has registered a net profit of 19.79 crore in the same quarter in the previous year. Currently two analysts are following the stock recommending to buy the stock. The consensus recommendation is to buy the stock.