Eicher Motors Ltd Board to consider FY20 results & Sub-division/split of equity shares on June 12, 2020

A meeting of the Board of Directors of Eicher Motors Ltd will be held on June 12, 2020, to consider and approve audited standalone and consolidated financial statements for the financial Year ended March 31, 2020.

The board will consider and approve audited Standalone & Consolidated Financial Results of the Company for the fourth quarter and year ended March 31, 2020 (prepared pursuant to SEBI (LODR) Regulations, 2015).

The board will 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 Company proposed to spend the Unutilized Amount i.e. Rs. 1,158.38 Lakhs for revamping of the Biotech facility of the Company, for which the Company has already availed loan of Rs. 3,024 Lakhs from Sun Pharmaceutical Industries Limited, one of the Promoters of the Company. The shareholders has approved "New Object" of repayment of the loan to the extent of Unutilised Amount of Rs. 1,158.38 Lakhs. Accordingly, Company has made repayment of Rs. 1,158.38 lakhs. towards Term Loan availed from Sun Pharmaceutical Industries Limited during this quarter.

Shares of EICHER MOTORS LTD. was last trading in BSE at Rs.13918.25 as compared to the previous close of Rs. 14072.7. The total number of shares traded during the day was 2386 in over 1010 trades.

The stock hit an intraday high of Rs. 14098.7 and intraday low of 13717.25. The net turnover during the day was Rs. 33124127.

Source : Equity Bulls

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