Tuesday, December 14, 2004
BIKE EUROPE: DELHI, India (December 14) - Atlas Cycles has touched a 52-week high of Rs 141.75 (€ 2,41) . The stock has touched an intraday low of Rs 118.20 (€ 2,01). The share is quoting at Rs 140.40 (€ 140,40), up Rs 19.55 (€ 0,33), or 16.18%. It is trading with volumes of 1,11,650 shares, compared to its 5-day average of 18,198 shares, an increase of 513.53%.
The company has started importing bicycles from China in order to combat the rising costs of manufacturing bicycles in India. The company has entered into a strategic tie-up with one of China’s major bicycle manufacturers, Forever Bicycle Company, for these imports.
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