Eicher Motor further clarified that the company has a strategy of developing and if required, sourcing components and parts from multiple vendors and as such the above event is not considered material by the company in terms of principles of materiality set out in SEBI regulation.
The company had reported a net profit after tax of ₹461.53 crore in the year-ago period.For 2018-19, the company posted a net profit after tax at ₹2,202.73 crore as compared to ₹1,959.67 crore in 2017-18
The shares of Eicher Motors Ltd gained as much as 3.33 per cent to Rs 22,599.95, highest since January 1.The stock has broken above a resistance at Rs 22,264.5, the 23.6 per cent Fibonacci retracement.
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