Eicher Motors gains as its JV establishes Joint Venture with iTriangle Infotech
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Eicher Motors is currently trading at Rs. 4666.95, up by 19.80 points or 0.43% from its previous closing of Rs. 4647.15 on the BSE.
The scrip opened at Rs. 4650.50 and has touched a high and low of Rs. 4690.00 and Rs. 4642.65 respectively. So far 639 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 4740.30 on 14-May-2024 and a 52 week low of Rs. 3159.20 on 10-Jul-2023.
Last one week high and low of the scrip stood at Rs. 4740.30 and Rs. 4526.45 respectively. The current market cap of the company is Rs. 127248.93 crore.
The promoters holding in the company stood at 49.15%, while Institutions and Non-Institutions held 40.09% and 10.76% respectively.
Eicher Motors and Volvo Group's joint venture (JV) company -- VE Commercial Vehicles (VECV) has established a Joint Venture with iTriangle Infotech, a leading telematics solutions provider, to develop and deliver fleet management solutions for truck and bus customers operating in various applications. Definitive agreements to form the JV have been signed and the JV will focus on development of industry leading telematics fleet management systems for VECV, operating on telematics hardware devices supplied to it by iTriangle.
Through this joint venture, VECV intends to further strengthen its innovative and industry leading surround-service portfolio for Eicher truck and bus customers to address the rapidly evolving people and logistics ecosystem in India and select export markets.
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.
