Eicher Motors shines despite its JV firm VE Commercial reports 18% decline in August sales   g

Eicher Motors is currently trading at Rs. 3214.00, up by 20.30 points or 0.64% from its previous closing of Rs. 3193.70 on the BSE. The scrip opened at Rs. 3225.00 and has touched a high and low of Rs. 3239.00 and Rs. 3205.30 respectively. So far 110 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3980.00 on 18-Jul-2013 and a 52 week low of Rs. 2049.05 on 05-Sep-2012. Last one week high and low of the scrip stood at Rs. 3340.90 and Rs. 3100.20 respectively. The current market cap of the company is Rs. 8657.19 crore. The promoters holding in the company stood at 55.18% while Institutions and Non-Institutions held 24.85% and 19.98% respectively. Eicher Motors and Volvo Group’s 50:50 joint venture firm, VE Commercial Vehicles (VECV) has reported 17.95% decline in total sales of Eicher branded products at 3,207 units in August 2013. The company had sold 3,909 units in the same month last year. The domestic sales stood at 2,757 units in August 2013 as against 3,712 units in the year-ago period, down 25.7%. On the exports front, Eicher trucks and buses have recorded sales of 450 units in August 2013 as compared to 197 units in August 2012, representing a growth of 128.42%.  Alok  kumar PGDM 3rd sem