Premier soars on plan to introduce 200 service stations 'Rio'

25 Jan 2012

Premier is currently trading at Rs. 72.00, up by 3.85 points or 5.65% from its previous closing of Rs. 68.15 on the BSE.

The scrip opened at Rs. 72.50 and has touched a high and low of Rs. 72.50 and Rs. 69.50 respectively. So far 1180 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 107.00 on 08-Jun-2011 and a 52 week low of Rs. 59.05 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 76.90 and Rs. 67.55 respectively. The current market cap of the company is Rs. 218.68 crore.

The promoters holding in the company stood at 43.73% while Institutions and Non-Institutions held 7.14% and 49.13% respectively.

Premier, is ramping up it’s after sale service by establishing Premier Authorized Service Stations ‘Rio’ branded as PASS, as it has received incredible customer response for Rio at the 11th Auto Expo 2012. By June 2012, company is likely to have 200 such service stations for the Rio nationwide. The company has formed a dedicated team for implicating these initiatives in a time bound manner thereby expanding the service network for Rio customers.

The entity also plans to add another 30 dealers to its existing network of 50 dealers taking its overall network to 80 dealerships by 2012. It aims 100 dealerships and 300 service stations by the December 2012. It will offer Rio spare parts at very reasonable prices.

The company is engaged in the manufacture of automobiles and machine tools. Incorporated in 1944, Premier was first Indian company to start making automobiles.

Related Premier Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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