Eicher Motors gains on eyeing 15% share of domestic CV market this year

Eicher Motors is currently trading at Rs. 6522.00, up by 35.25 points or 0.54% from its previous closing of Rs. 6486.75 on the BSE. The scrip opened at Rs. 6570.00 and has touched a high and low of Rs. 6570.00 and Rs. 6490.00 respectively. So far 438 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 6756.65 on 09-May-2014 and a 52 week low of Rs. 2975.00 on 21-Aug-2013. Last one week high and low of the scrip stood at Rs. 6756.65 and Rs. 6222.75 respectively. The current market cap of the company is Rs. 17661.63 crore. The promoters holding in the company stood at 55.08% while Institutions and Non-Institutions held 24.91% and 20.00% respectively. Eicher Motors and Volvo Group’s joint venture firm, VE Commercial Vehicles (VECV) is aiming at garnering a 15% share of the domestic commercial vehicle (CV) market this year, as against 13.8% in 2013. The JV firm launched its new Pro1000 and Pro3000 series of light and medium duty trucks in the Andhra Pradesh market. The Pro3000 medium duty truck series would now replace the Eicher's E2 Plus range, which was currently available in 5-to-14 tonne capacities. VECV currently has a 34% share in the light and medium duty (L&MD) truck segment, close to 6% in heavy duty truck category and 15% in the 5-to-15-tonne bus segment this year. Eicher Motors is one of the leading manufacturers of commercial vehicle. It has manufacturing facilities located in Madhya Pradesh, Tamil Nadu, Maharashtra, and Haryana.