Eicher Motors rises as its arm incorporates new subsidiary in Indonesia
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Eicher Motors is currently trading at Rs. 4623.55, up by 35.00 points or 0.76% from its previous closing of Rs. 4588.55 on the BSE.
The scrip opened at Rs. 4562.05 and has touched a high and low of Rs. 4646.80 and Rs. 4535.00 respectively. So far 1993 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 5104.50 on 27-Sep-2024 and a 52 week low of Rs. 3272.35 on 01-Nov-2023.
Last one week high and low of the scrip stood at Rs. 4850.05 and Rs. 4510.00 respectively. The current market cap of the company is Rs. 124708.59 crore.
The promoters holding in the company stood at 49.10%, while Institutions and Non-Institutions held 41.38% and 9.52% respectively.
Eicher Motors’ material subsidiary -- VE Commercial Vehicles (VECV) has incorporated a new subsidiary company in Indonesia by the name of PT VECV automotive Indonesia.
PT VECV Automotive Indonesia has been set up with a view to enhance the Four-Wheeled and other Motor Vehicles supply chain in Indonesia. These business activities are related to the main line of business of VECV.
VECV has subscribed to the 99.99% of the equity share capital of PT VECV Automotive Indonesia i.e. 179,982 shares having the aggregate nominal value of Indonesian Rupiah 17,998,200,000.
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.
