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This article is more than 3 year old.

Eicher Motors shares tank 8.5% as December two-wheeler sales nosedive

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Shares of Eicher Motors traded at Rs 21,215 on the NSE, down by 8.54 percent at 3.16 pm.

Eicher Motors shares tank 8.5% as December two-wheeler sales nosedive
Shares of Eicher Motors fell more than 8.5 percent on Wednesday on poor December sales numbers. The stock has fallen after three days of consecutive gain, underperforming the sector by 3.6 percent.
The largecap auto stock has underperformed in the last one year, declining 25 percent, while Eicher Motors shares' value jumped by a whopping 8,807 percent in the last 10 years, according to marketsmojo.com.
The company's motorcycle sales in December nosedived 13 percent on year to 58,278 units.
The weak performance was a result of lack of demand for its motorcycles with engine capacity of less than 350 cc, whose sales fell 15 percent on year to 53,790 units.
Sales of motorcycles with engine capacity of over 350 cc, however, rose 21 percent on year to 4,488 units.
The sales performance was hit even after the company resolved staff problems at its key facility in Tamil Nadu in November.
Shares of Eicher Motors traded at Rs 21,215 on the NSE, down by 8.54 percent at 3.16 pm. The stock was the top drag on the Nifty Auto, which also fell over 3 percent with all 16 stocks declining on the sectoral gauge.
The benchmark Nifty traded lower by 119 points or 1.09 percent, to trade at 10,790. The Sensex plunged by 372 points or 1.03 percent, to trade at 35,882.
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(With inputs from agencies)
Disclaimer: The CNBCTV18.com editorial team does not engage in speculative or active trading in stock markets and follows its Code of Conduct on securities trading and investment. Any investor/ viewer is advised to carry out necessary diligence on their own or through a certified registered financial advisor for investment decisions.
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