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Eicher Motors falls as its arm recalls 15,200 units of three models to replace a brake part

  • May-22-2020
  • 14 Hrs IST

Eicher Motors is currently trading at Rs. 13800.00, down by 272.70 points or 1.94% from its previous closing of Rs. 14072.70 on the BSE.

The scrip opened at Rs. 13950.00 and has touched a high and low of Rs. 14098.70 and Rs. 13717.25 respectively. So far 1829 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 23427.75 on 26-Nov-2019 and a 52 week low of Rs. 12460.00 on 07-Apr-2020.

Last one week high and low of the scrip stood at Rs. 14196.25 and Rs. 12852.00 respectively. The current market cap of the company is Rs. 37742.42 crore.

The promoters holding in the company stood at 49.28%, while Institutions and Non-Institutions held 38.98% and 11.75% respectively.

Eicher Motors’ motorcycle arm -- Royal Enfield is recalling 15,200 units of three models across the UK, Europe and Korea to replace a brake part. The company is recalling Interceptor 650, Continental GT 650 and Himalayan motorcycles after discovering a brake caliper corrosion-related issue in some specific countries.

This is a precautionary service intervention, and will be undertaken across the UK, the rest of Europe and Korea. With immediate effect, around 15,200 motorcycles sold in these markets will be called in for inspection, cleaning and part replacement, if required. In a later phase of the service action, as a preventive measure, the caliper assemblies on these motorcycles will be replaced with the improved part, before the end of this year.

Eicher Motors is an India-based company, which is engaged in manufacturing automobile products and related components. The company operates in business verticals, including motorcycles, commercial vehicles and personal utility vehicles.