Eicher Motors rises as its arm commences operations of new CKD assembly facility in Brazil
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Eicher Motors is currently trading at Rs. 3321.25, up by 55.15 points or 1.69% from its previous closing of Rs. 3266.10 on the BSE.
The scrip opened at Rs. 3293.95 and has touched a high and low of Rs. 3329.00 and Rs. 3274.85 respectively. So far 14096 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3886.00 on 01-Nov-2022 and a 52 week low of Rs. 2110.00 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 3440.65 and Rs. 3254.55 respectively. The current market cap of the company is Rs. 90657.96 crore.
The promoters holding in the company stood at 49.21%, while Institutions and Non-Institutions held 40.30% and 10.48% respectively.
Eicher Motors’ motorcycle arm -- Royal Enfield has begun a new chapter on its journey in the Americas region, and specially in Brazil, with the commencement of operations of its new CKD assembly facility. This is a significant step forward in Royal Enfield’s plans in LatAm, and reiterates the brand’s commitment to the region, as Brazil is a strong market for Royal Enfield. Located in Manaus, capital of Amazonas state, the new facility is the fourth Royal Enfield CKD assembly unit across the world - after Thailand, Colombia and Argentina - in addition to its state-of-the-art manufacturing and ancillary facilities located in India.
With an assembly capacity of more than 15,000 units per year, the local assembly unit in Manaus is a state-of-the-art, modern facility that will cater to growing demand in the country. The facility will engage in local assembly of the entire line-up of Royal Enfield motorcycles, including the new Classic 350, the Meteor 350, the Himalayan, and the 650 twin motorcycles, Continental GT and the Interceptor. With this setup, Royal Enfield can now ensure seamless and quicker delivery timelines for motorcycles in Brazil.
Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.
