Eicher Motors Surges 5% On Stock Split Plans

Shares of Eicher Motors rose as much as 5 percent in trade on Tuesday after it informed of its plans to consider a stock-split. On Monday, the company said in a stock exchange filing that its board has decided to meet on 12 June 2020 to "consider and approve Sub-division/split of the equity shares of face value of Rs. 10 each of the Company in such manner as may be determined by the Board of Directors."

The stock surged to as much as Rs 14,635.95 on Tuesday from its previous close of Rs 13,918.25. The manufacturer of Royal Enfield motorcycles is scheduled to release its financial results for the last quarter and the whole financial year 2019-20 on the same day.

Earlier this month, the company informed the exchanges it has appointed Kaleeswaran Arunachalam as the Chief Financial Officer (CFO) with effect from 6 May 2020 and Lalit Malik, who has been in the position of CFO and Chief Commercial Officer of the Company, shall continue in his role as Chief Commercial Officer of the company.