In light of the unprecedented situation owing to the spread of COVID-19, Royal Enfield has decided to suspend all operations globally, starting Monday, March 23, 2020, till March 31, 2020.
This will include the company's manufacturing facilities across Tiruvottiyur, Oragadam and Vallam Vadagal in Chennai, Technical Centres across Chennai and at Bruntingthorpe, Leicestershire in the UK, and all company offices and company owned dealerships in India. The company has further issued advisories to all dealerships in India to shut down for the same time period, or follow local administrative orders, as may apply.
This has been done keeping in mind the safety and wellbeing of all employees, and casual and temporary workers. During this time period, company employees will continue to work-from-home, and there will be no salary deduction for any permanent or temporary employees or workforce, and no reduction of workforce.
Depending on concerned local jurisdiction and restrictions ordered, the company's Roadside Assistance facility, service centers and workshop facilities are likely to be impacted during this period.
Royal Enfield will continue to closely monitor the situation and take appropriate action as per regulatory and administrative guidance
Shares of EICHER MOTORS LTD. was last trading in BSE at Rs.15800 as compared to the previous close of Rs. 15045.35. The total number of shares traded during the day was 8210 in over 3971 trades.
The stock hit an intraday high of Rs. 15960.8 and intraday low of 14474.85. The net turnover during the day was Rs. 124353999.
Note: As of March 20, 2020, the company has successfully cleared all existing inventory of BS-IV motorcycles across channels and dealerships