Eicher Motors gains 5% after reports board to consider stock split on 12 June1 min read . Updated: 26 May 2020, 01:43 PM IST
- The board will consider sub-division of equity shares of face value of ₹10 each and also the company's March quarter results on 12 June
MUMBAI: Shares of Eicher Motors jumped 5.1% on Tuesday after the company said its board will consider stock split on 12 June.
At 0110 pm, the stock was at ₹14,558.80, up 4.6% from its previous close, while the benchmark Sensex rose 0.5% to 30,819.95.
The board will consider sub-division of equity shares of face value of ₹10 each and also the company's March quarter results on 12 June.
The company's consolidated net profit fell 6.4% to ₹498.70 crore for the quarter ended 31 December while net sales rose 1% to ₹2,350.45 crore.
Earlier this month, Eicher Motors Ltd resumed operations at its unit in Oragadam, Tamil Nadu, in a staggered manner with minimal staff in one shift.
Operations at the other two manufacturing facilities--Tiruvottiyur and Vallam Vadagal--was also restarted in a phased manner. The company has begun partial operations at about 120 Royal Enfield dealerships.
Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles (VECV) - which operates in India's commercial vehicle space. VECV has a complete range of trucks and buses from 5-55 tonnes, and its integrated manufacturing plant in Pithampur, Madhya Pradesh is the global hub for medium duty five- and eight-litre engines for Volvo Group.