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Eicher Motors share price gains 3% despite weak Q4 earnings

Eicher Motors share price gained 3.01% to touch an intraday high of Rs 17,367 on BSE

twitter-logoBusinessToday.In | June 15, 2020 | Updated 11:13 IST
Eicher Motors share price gains over 2% despite weak Q4 earnings
On Friday, Eicher Motors share price ended 2.60% or Rs 427 higher at Rs 16,846 before the Q4 earnings were announced

Eicher Motors share price rose in early trade today despite the Royal Enfield maker posting a 44.15 per cent year-on-year fall in net profit for the quarter ended March 2020. Eicher Motors share price gained 3.01% to touch an intraday high of Rs 17,367 on BSE. The share is trading higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

On Friday, Eicher Motors share price  ended 2.60% or Rs 427 higher at Rs 16,846 before the Q4 earnings were announced. Stock price of Eicher Motors has gained 2.05% in one week. The stock has risen 22.24% in one month. Market capitalisation of the firm rose to Rs 46,767 crore.

Total 3377 shares changed hands amounting to turnover of Rs 5.78 crore on BSE. The large-cap stock hit 52 week high of Rs 23,427 on November 26 last year and 52 week-low of Rs 12,460 on April 7, 2020.

Eicher Motors share price rises 10% on plan to split stock

Consolidated net profit for Q4 came in at Rs 304.28 crore against net profit of Rs 544.84 crore in the same period last year. Total income declined fell to Rs 2,351.30 crore during Q4 . The company reported total income at Rs 2,642.78 crore in the corresponding quarter last year. Earnings per share fell to Rs 111.46 in Q4 from Rs 199.72 in the corresponding quarter of previous fiscal.

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