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Eicher Motors shares ascend 17 percent

By SiliconIndia   |   Thursday, April 29, 2010
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Bangalore: The Eicher Motors' stock was on a roll as it touched a new one year high before closing nearly 17 percent above its previous close. Having started the day at Rs. 700, the stock touched its 52 week high of Rs. 822, before closing trade at 800.45, up 16.77 percent. Through the day, 484959 Eicher shares were traded in the market with the current P/E ratio of the stock at 56.76. 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. In 2009, the Company introduced Classic bike in the two categories of 350cc and 500cc. The Classic bikes are powered by a single cylinder 500 cc unit construction engine (UCE) supported by electronic fuel injection (EFI). The one analyst following the stock currently recommends to buy the stock.
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