Two-wheeler-maker Eicher Motors joins Rs 1 trillion M-Cap club

Chennai, Sep 15 (IANS) Two-wheeler-maker Eicher Motors Ltd on Thursday joined the Rs 1 trillion market capitalisation club during the intra-day trade.

The shares of Eicher Motors - that rolls out the 350cc Bullet and other brands of higher capacity bikes - on Thursday opened at Rs 3,541.30, touched a high of Rs 3,670.90, and closed at Rs.3,622.50.

While the scrip touched a market capitalisation of Rs.1 trillion intra-day, market capitalisation at the close of trading hours was about Rs 99,059 crore.

Eicher Motors also holds majority stakes in the commercial vehicle joint venture with Volvo - VE Commercial Vehicles.

In the two-wheeler segment, Eicher Motors has been on the upswing with sales going up.

Between April-August 2022, the company has sold 312,872 units, up from 213,538 units sold during the comparable period last year.

While the 350cc models account for the majority of the sales numbers, the sales of over 350cc bikes are growing at a faster clip.

For the first quarter of the current fiscal the company has logged revenue of Rs 3,247.94 crore and a net profit of Rs 580.17 crore.