Eicher Motors dips after Royal Enfield suffers production loss of 11,200 bikes

 

Shares of Eicher Motors have dropped 2% to Rs 16,000 on the Bombay Stock Exchange (BSE) after the company’s flagship motorbike; Royal Enfield registered a loss of 11,200 units due to torrential rains that lashed the city of Chennai in November and December thus affecting the production facility of Eicher Motors.

Due to a high incidence of absenteeism by our employees, and issues with the local suppliers, the company will be running at approximately 50% capacity this week, and plan to be back to 100% capacity by next week, Eicher Motors said in a filing on the BSE.

The stock opened at Rs 16,308 and hit a low of Rs 16,000 during the day. At 12:30 pm, A combined total of 16,694 shares changed hands on the counter of NSE and BSE.