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Archive for December 10th, 2007

Eicher’s fundamentals pump up valuation

Published December 10th, 2007 in volvo, Eicher motors and Tafe. 0 Comments

For a David in a market of Goliaths, Eicher manages to attract a great deal of respect both from its domestic as well as global rivals. Its valuation luck held out when Tafe bought its tractor business for Rs 310 crore two years ago. Although the exact valuation of the 8% that Volvo is picking up in Eicher Motors isn’t confirmed, the buzz is that the premium is fairly decent.
More
Courtesy:economictimes.indiatimes.com

Another marriage of frugal engg with high tech

Published December 10th, 2007 in Mahendra&Mahendra, Nissan, Ashok Leyland and Eicher motors. 0 Comments

It is yet another marriage of frugal engineering with high technology. The joint venture announced on Monday between Swedish multinational, Volvo A.B., and Eicher Motors follows the same pattern as three other partnerships that were forged in the recent past ? Ashok Leyland-Nissan Motors, Mahindra & Mahindra- ITEC, and Force Motors-MAN A.G.

The mantra behind these joint ventures was efficient, low-cost manufacturing using high-end global technology and the Volvo-Eicher tie-up is no different. For Volvo, Eicher was the best and possibly, only effective pick available in the high potential commercial vehicles market, already the fourth largest in the world. More
Courtesy:www.indiacar.net

Volvo in truck with Eicher for CVs

Published December 10th, 2007 in volvo and Eicher motors. 0 Comments

Swedish truck giant AB Volvo is acquiring a 50% economic interest in Eicher Motors’ (EML) commercial vehicles business, which is being spun off into a new joint venture (JV) company.

Volvo will invest $350 million for a 45.6% stake in the JV. In addition, it also intends to acquire 8.1% stake in EML from its Delhi-based promoters for an undisclosed amount, which will take its direct and indirect ownership to 50% of JV company. ET broke the story in its Monday edition. EML will directly hold 54.4% in the joint venture. A Letter of Intent (LoI) to this effect was signed on Monday. More
Courtesy:economictimes.indiatimes.com

Eicher Motors down as market expected better deal

Published December 10th, 2007 in volvo and Eicher motors. 0 Comments

Eicher Motors tumbled on the market after the announcement of its proposed joint venture with Volvo as Dalal Street had factored in a better price of company?s total business (sans motor cycles). The stock closed down 12.5 per cent at Rs 477 after touching an intra-day low of Rs 442.

Volvo stock also had plunged in the negative territory in early trades on the Stockholm Stock Exchange but recovered later and was trading in the green in the closing hour. It finished up more than 1 per cent. More
Courtesy:www.indiacar.net

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