Premier soars on plan to commence delivery of compact sports utility vehicle ‘RiO’

01 Aug 2012 Evaluate

Premier is currently trading at Rs. 75.70, up by 1.55 points or 2.09% from its previous closing of Rs. 74.15 on the BSE.

The scrip opened at Rs. 77.65 and has touched a high and low of Rs. 77.65 and Rs. 73.15 respectively. So far 5611 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 91.40 on 26-Sep-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. 78.35 and Rs. 71.05 respectively. The current market cap of the company is Rs. 222.18 crore.

The promoters holding in the company stood at 43.73% while Institutions and Non-Institutions held 6.79% and 49.48% respectively. 

Premier (formerly known as Premier Automobiles) will commence deliveries of its compact sports utility vehicle (SUV) RiO equipped with the 1.3 litre multi-jet diesel engine sourced from FIAT India Automobiles from August 02, 2012 through its dealers in select cities across the country. The price for various versions of RiO equipped with this CRDi4 engine will start at Rs 6.7 lakh (ex showroom Pune). The 1.3 litre CRDi4 RiO will be available in 4 colours - black, white, red and silver.

The engine will be badged as 'CRDi4' in the Premier RiO. Equipped with this CRDi4 engine the RiO will be BS 4 emission compliant, and will enhance its drivability both in the city and on highways with a fuel efficiency of 19 km/litre. This is the same engine used by some of India’s leading car manufacturers and the commonality will enhance service, parts and maintenance for the RiO all over India. Besides, the company’s assembly plant is fully geared up and it will be able to supply up to 1000 units per month initially.

Premier currently has a nationwide sales and service network of 55 dealers that is being raised to 100 by December 2012. It is also setting up 200 authorized service outlets all across the country called PASS (Premier Authorized Service Stations) equipped to support the RiO.

Premier Share Price

3.13 -0.06 (-1.88%)
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