Eicher Motors is trading higher by nearly 3% at Rs 3,894 after the overseas investors have increased their stake in the company by over 3 percentage points during April-June quarter.
The stock opened at Rs 3,825 and hit a record high of Rs 3,945 on NSE. A combined 98,368 shares have changed hands on the counter till 1250 hours against two week average of 27,000 shares on NSE and BSE.
Foreign institutional investors (FIIs) holdings in two-three wheeler maker have increased to 15.96% in June quarter from 12.88% at the end of March quarter. The overseas investors held 7.84% stake in the company in June 2012 quarter.
Fidelity Investment Trust Fidelity Series Emerging Market and Tree Line Asia Master Fund (Singapore) PTE Ltd have increased their stake to over 1% each in June quarter against nil holding in previous quarter. Meanwhile, the domestic institutional investors’ holdings in the company declined to 8.89% from 11.82% during the quarter.
The stock has outperformed the market by surging 27% as compared to 1.3% rise in benchmark CNX Nifty since May 13 this year, on reporting more-than-double standalone net profit at Rs 97.20 crore for the quarter ended March 2013.
The stock opened at Rs 3,825 and hit a record high of Rs 3,945 on NSE. A combined 98,368 shares have changed hands on the counter till 1250 hours against two week average of 27,000 shares on NSE and BSE.
Foreign institutional investors (FIIs) holdings in two-three wheeler maker have increased to 15.96% in June quarter from 12.88% at the end of March quarter. The overseas investors held 7.84% stake in the company in June 2012 quarter.
Fidelity Investment Trust Fidelity Series Emerging Market and Tree Line Asia Master Fund (Singapore) PTE Ltd have increased their stake to over 1% each in June quarter against nil holding in previous quarter. Meanwhile, the domestic institutional investors’ holdings in the company declined to 8.89% from 11.82% during the quarter.
The stock has outperformed the market by surging 27% as compared to 1.3% rise in benchmark CNX Nifty since May 13 this year, on reporting more-than-double standalone net profit at Rs 97.20 crore for the quarter ended March 2013.
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