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<keyword id="80296" type="General" weightage="20" keywordseo="eicher-motors" source="Orion">Eicher Motors</keyword> on Monday said it has 'unanimously' decided to re-appoint <keyword id="121127" type="General" weightage="20" keywordseo="siddhartha-lal" source="Orion">Siddhartha Lal</keyword> as Managing Director of the company with effect from May 1, 2021, with changes in his remuneration package, a week after the company's shareholders rejected the proposal. The company said that the board of directors on Monday discussed the outcome of the <keyword id="1698727" type="General" weightage="20" keywordseo="39th-agm" source="Orion">39th AGM</keyword> held on August 17, 2021. The matter pertaining to the re-appointment of Lal as Managing Director and the remuneration proposal was discussed comprehensively, and the Board unanimously decided to re-appoint him as Managing Director, with effect from May 1, 2021, Eicher Motors said in a statement. The Board will now go back to shareholders for approval through postal ballot, it added. Last week, the company's shareholders had rejected the re-appointment of Lal as Managing Director. The shareholders had voted against the proposal mainly due to the proposed increase in Lal's remuneration package. "The Nomination and Remuneration Committee (NRC) of the company has considered all the factors, including inputs from various stakeholders including institutional investors before recommending remuneration for key managerial persons. The primary concern with investors was not Siddhartha's reappointment as Managing Director or the proposed compensation; it was the lack of clarity regarding the enabling provision that potentially allowed payment of remuneration up to 3 per cent of profits," Eicher Motors Chairman S Sandilya said. Over the last four years, the company has had the same limit of 3 per cent, but in reality have paid only a fraction of that amount, he added. "The actual remuneration during FY2021 was at 1.04 per cent of profits, with the preceding years being at a lower percentage," Sandilya said. Given the background of actual remuneration paid to the Managing Director in preceding years, the Board has now approved a revised remuneration structure for the Managing Director, with a maximum cap of 1.5 per cent of profits, the company said. Specific details of the remuneration are being shared via the postal ballot, it added. "The remuneration increase in FY2021 is in line with the average 9.7 per cent increment given to all company employees for the year. The median, which is a measure of central tendency, is impacted by entry and exits of employees," Eicher Motors Independent Director and Chairperson of the Nomination and Remuneration Committee Manvi Sinha noted. During FY2021, 267 employees joined the company, out of which 77 per cent were hired at below the median salary and 284 employees exited the company out of which 66 per cent were drawing higher than the median salary, she added. "Owing to this, despite there being a 9.7 per cent average increase in salaries at Eicher Motors in FY2021, the median shows an increase of just 1 per cent. The board fully supports Siddhartha's appointment as Managing Director and his proposed compensation, and we are confident that our shareholders will support these resolutions as well," Sinha said. Elaborating on the role played by Lal in the growth of the company, Sandilya said that he has been the architect of Eicher Motors' growth story over the last two decades. "When he took over as CEO of <keyword id="94237" type="General" weightage="20" keywordseo="royal-enfield" source="Orion">Royal Enfield</keyword> in 2000, the division was making large losses and was slated for closure. Siddhartha has transformed Royal Enfield into a formidable premium motorcycling brand in India, pioneering the leisure riding segment," he stated. Royal Enfield, a part of Eicher Motors, grew the premium over 250cc market in India exponentially, and has maintained over 90 per cent market share in it for the last decade, resulting in EBITDA margins for EML at over 30 per cent during the pre-pandemic peak, Sandilya noted. Subsequently, Lal moved to the UK in 2015 to personally drive the company's ambition of becoming the first global premium consumer brand to emerge from India; there he was directly overseeing the product development and international expansion, he added. "Going forward, Siddhartha and his team at EML have charted out exciting and robust plans for the future. Royal Enfield, already the global leader in middleweight motorcycles (250cc-750cc), is on the path to growing this segment multi-fold globally and becoming the first global consumer brand to emerge from India. Also, under the chairmanship of Siddhartha, VE Commercial Vehicles is all set to attain new heights by leading the modernisation and transformation of India's commercial vehicle sector," Sandilya said. In addition to the motorcycle business, Eicher motors has a joint venture with Sweden's AB Volvo - VE Commercial Vehicles Limited (VECV). During the company's 39th AGM earlier this month, while 73 per cent of the votes favoured Lal's re-appointment as Managing Director, the rest 27 per cent were against it. As a special resolution, it needed support from 75 per cent of the votes cast to pass the proposal. Out of the total 21,74,67,139 votes, 15,88,49,543 (73.04 per cent) were in favour of the re-appointment while 5,86,17,596 (26.95 per cent) votes disapproved the proposal. The company's public institutional shareholders particularly opposed the move. SEE ALSO <a href="https://www.businessinsider.in/science/health/news/cadila-healthcare-to-launch-zycov-d-vaccine-for-12-year-old-and-above/articleshow/85564761.cms">Cadila Healthcare’s ZyCoV-D — This is what makes it different from other COVID-19 vaccines</a> <a href="https://www.businessinsider.in/business/startups/news/paytm-ipo-delhi-court-asks-local-police-to-conclude-investigation-on-allegations-raised-by-former-one97-communications/articleshow/85564575.cms">Paytm IPO: Delhi court asks local police to conclude its investigation in three weeks</a>

Royal Enfield maker Eicher Motors re-appoints Siddhartha Lal as MD amid a salary hike tussle

<ul><li>Shares of Chemplast Sanmar listed at ₹525 while the price band was fixed at ₹530-541 per share.</li><li>The IPO was subscribed just 2.17 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹8,397 crore.</li></ul>Shares of speciality chemical company Chemplast Sanmar made a weak listing on the National Stock Exchange (NSE) and BSE as the stock listed at 2.96% discount on the issue price band of ₹530-541 apiece. Post listing, the market capitalisation of the company stood at ₹8,397 crore, according to BSE data. The shares of Chemplast Sanmar were trading at ₹527.25, lower by 2.87% at 10.05 a.m., on August 24. The grey market had indicated a flat listing for shares of Chemplast Sanmar. The IPO ⁠— open between August 10 and August 12 ⁠— received tepid response from investors. It was subscribed 2.17 times on the last day of the bidding. However, analysts at Angel Broking had recommended avoiding the stock if it falls below the issue price. “We expect a flat opening for the stock...We had given a NEUTRAL rating to the IPO given our concerns due to high debt on books and negative net worth despite having a positive outlook on the chemicals. We would recommend to avoid buying into the stock in case it falls below the issue price post listing given our concerns,” said Jyoti Roy, deputy vice president, equity strategist at Angel Broking. Chemplast Sanmar is a speciality chemical manufacturer with a focus on specialty paste poly vinyl chloride (PVC) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. The company was looking to raise ₹3,850 crore via IPO comprising ₹1,300 crore fresh issue and offer for sale up to ₹2,550 crore from existing shareholders. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/aptus-value-housing-ipo-makes-a-weak-stock-market-debut-list-at-6-53-discount-on-exchanges/articleshow/85584127.cms">Aptus Value Housing IPO debuts with a tepid opening, lists at 6.5% discount</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/royal-enfield-maker-eicher-motors-re-appoints-siddhartha-lal-as-md-amid-a-salary-hike-tussle/articleshow/85582376.cms">Royal Enfield maker Eicher Motors re-appoints Siddhartha Lal as MD amid a salary hike tussle</a>

Chemplast Sanmar's weak listing price reflects the fear around the chemical maker's debt pile

Company managements need to "curtail the kind of expenditures on themselves personally" with the <keyword id="8763838" type="General" weightage="20" keywordseo="COVID-19" source="Orion">COVID-19</keyword> pandemic highlighting the need to build internal resources with a frugal style of functioning, <keyword id="6365618" type="General" weightage="20" keywordseo="maruti-suzuki-india" source="Orion">Maruti Suzuki India</keyword> <keyword id="11939331" type="General" weightage="20" keywordseo="Chairman-R-C-Bhargava" source="Orion">Chairman R C Bhargava</keyword> said on Tuesday. Addressing shareholders in the company's annual general meeting held virtually, he also termed as "a good development for the whole of industry" recent shareholder actions that did not approve expenditures by management on themselves, without specifying details. In the wake of the pandemic, building internal resources has to become a priority of industry and companies. It requires companies to have a more frugal style of management, he said. "Management themselves need, I think, to curtail the kind of expenditures on themselves personally. Recent shareholder action seems to suggest why a section of shareholders share this view and are voting on these lines and I think that's a good development for the whole of industry," Bhargava said without elaborating. Earlier this month Eicher Motors Ltd had failed to get approval of shareholders on a special resolution to re-appoint Siddhartha Lal as Managing Director with increased remuneration, with 73 per cent of them voting in favour and around 27 per cent against. As it was a special resolution, it needed support from 75 per cent of the votes cast to pass the proposal. On Monday the company's board decided to go back to the shareholders for approval of Lal's re-appointment as Managing Director with effect from May 1, 2021, with changes in his remuneration package. Commenting on the learnings from the pandemic, Bhargava said companies which had strong financial reserves, which were generating internal resources and kept reserves were the ones best able to tide over the difficulties created by COVID-19. "They were able to look after their manpower and employees and to come back to the production required as quickly as possible," he said, adding companies have to have the resilience to face the kind of crisis which the pandemic brought. Bhargava, who had in the past stated that the high tax regime is slowing down car demand, reiterated the need to address the issue. "I am quite clear that if a strong industrial base has to be built in India, the auto industry and the car industry has to reach double digit growths and at present the conditions do not permit that we have it," he said. The auto industry veteran cited examples of state governments replacing the annual taxation by one time taxation on automobiles "in order to meet the immediate requirements of money", which made the cost of acquisition for customers very high. "It restricts the ability of people to buy cars and therefore, it restricts the industry," Bhargava said. However, he added, "I am particularly grateful to the Revenue Secretary Union government (Tarun Bajaj) , who has recognised that there is a problem for the car industry. Once that recognition is there at that level of government, I'm sure appropriate solutions will be worked out." Calling on the industry to partake in nation building, he said, "The management of industries must all understand and work not only for building companies and meet their limited objectives but think what they need to do to ensure that the industry plays a role in the growth and strengthening of the economy of the country." Industry has to understand that the purpose of an industry is not only to make the industry work in the interests of the promoter and the shareholders, but at the same time, they have a role to play in building a strong nation, he added. Bhargava further said recent events in the world and in the neighbourhood as well as COVID-19 have highlighted the need of an Indian economy to be much much stronger. "A strong economy is one of the essentials of safeguarding, independence and our values getting respect in the world. A strong economy also provides the means to build infrastructure in all areas," he said, adding over the last 70 years India has not been able to build "an economy as strong as many of our neighbours". Bhargava further said, "We found during the Covid epidemic that the health infrastructure was inadequate to meet much, much larger unexpected demands that were placed on it." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/nft-zombie-cryptopunk-7252-just-sold-for-5-billion-doubling-value-in-less-than-one-month/articleshow/85594193.cms">Zombie CryptoPunk sells for over $5 billion to become the fourth most valuable CryptoPunk NFT on the market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/agr-case-supreme-court-directs-dot-not-to-enchash-airtels-bank-guarantees-for-three-weeks/articleshow/85593688.cms">AGR case: Supreme Court directs DoT not to enchash Airtel's bank guarantees for three weeks</a>

Maruti’s R C Bhargava says India has not been able to build ‘an economy as strong’ as its neighbours, calls country’s health infra ‘inadequate’

New Delhi, Feb 6 () Eicher Motors on Thursday reported a 6.42 per cent decline in its consolidated net profit to Rs 498.70 crore for the quarter ended on December 31, 2019. The company had posted a net profit of Rs 532.95 crore for the corresponding period of the previous fiscal, Eicher Motors said in a filing to BSE. Consolidated total revenue from operations of the company stood at Rs 2,371.01 crore for the quarter under consideration as against Rs 2,341.06 crore for the same period of the previous year. Royal Enfield sold 189,143 motorcycles in the quarter, a decline of 2 per cent from 193,164 motorcycles sold over the same period in the last financial year, the company said. "We've remained focused on our long-term strategy. We have improved our retail network to bring in further accessibility. We've worked on transitioning our product portfolio to comply with the new BS-VI emission norms and also launched the new Royal Enfield Himalayan BS-VI," Eicher Motors MD Siddhartha Lal said. While the commercial vehicle industry continues to face challenges due to slowdown, VECV remained profitable despite a sharp decline in its volume, he added. In a separate filing, the company said its board has reappointed S. Sandilya and Manvi Sinha as independent directors of the company with effect from February 13, 2020, for a period of five consecutive years each. Shares of Eicher Motors were trading at Rs 20,493.35 on BSE, up 5.19 per cent from the previous close. AKT MRMR

Eicher Motors Q3 net profit declines 6 pc to Rs 499 cr

<ul><li>The 30-share BSE index opened 150.72 points higher, and the NSE Nifty was up 0.34% at 13,402.70.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes touched a fresh lifetime peak in early trade on Tuesday tracking gains in index majors Infosys, HDFC Bank and Maruti amid persistent foreign fund inflow. The 30-share BSE index opened 150.72 points higher, and the NSE Nifty was up 0.34% at 13,402.70. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr></tbody></table>*as of December 8, 10:30 am These are the top stocks in news today. Reliance Industries shares trade 3% higher The Mukesh Ambani-owned RIL shares soared 3% after a tepid start on Tuesday. While speaking at the India Mobile Congress 2020, Ambani said<a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-says-jio-will-rollout-5g-services-by-june-2021-and-it-will-go-beyond-india/articleshow/79619222.cms"> Jio would start 5G services</a> by the second quarter of CY21. [link it] Canara Bank surges 7% The shares of Canara Bank <a href="https://www.businessinsider.in/finance/banks/news/canara-bank-launches-2000-crore-qip-sets-the-floor-price-at-103-50-per-share/articleshow/79617503.cms">surged almost 7%</a> after the bank announced that it had set a floor price of ₹103.50 per share for its qualified institutional placement (QIP) to raise up to ₹2,000 crore. The bank sought its shareholders’ nod during the annual general meeting, held in August, for raising up to ₹2,000 crore by way of QIP. Coffee Day Enterprise soars 5% The shares of Coffee Day Enterprise soared nearly 5% after it appointed Malavika Hegde, the wife of late VG Siddhartha Hegde, has been appointed as Chief Executive Officer (CEO) of the company from December 7. Jet Airways advances 5% The shares of Jet Airways advanced over 5% after the consortium led by Murari Lal Jalan, and Kalrock Capital said that it plans to <a href="https://www.businessinsider.in/india/news/jet-airways-could-resume-operations-by-summer-of-2021/articleshow/79607964.cms">operationalise Jet Airways by the summer of 2021</a>, subject to certain conditions. Accordingly, the consortium has announced the revival of Jet Airways as a full-service carrier. Godrej Properties gains nearly 3% The shares of Godrej Properties gained nearly 3% after the company on Tuesday announced that it has entered into an outright transaction to purchase a well-located land parcel in Whitefield, Bangalore. Titan gains nearly a percent The shares of Titan gained nearly a percent after its board has decided to scale down the operations of its wholly-owned subsidiary, Favre Leuba AG (FLAG), with immediate effect. Titan said that it has been continuously supporting FLAG, and has made a series of investments. However, the current COVID-19 pandemic has severely impacted the revival plans and prospects. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/bharat-biotech-applies-for-emergency-use-approval-for-its-covid-19-vaccine-covaxin/articleshow/79617391.cms" data-type="tilCustomLink">Bharat Biotech applies for emergency use approval for its COVID-19 vaccine Covaxin</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-in-india-expert-panel-to-review-pfizer-serum-and-bharat-biotechs-emergency-use-application-tomorrow/articleshow/79617336.cms" data-type="tilCustomLink">COVID-19 vaccine in India: Expert panel to review Pfizer, Serum and Bharat Biotech's emergency use application tomorrow</a>

Sensex, Nifty at record high led by surge in IT stocks — these are the top movers in trade

<keyword id="94237" type="COMPANY" weightage="100" keywordseo="Royal-Enfield">Royal Enfield</keyword>, the niche bike-maker of India, is looking forward to making an entry into Brazil, which happens to be the largest market in Latin America. It aims to establish itself in major markets like Indonesia and Thailand, under its plans to become a leading player in the global segment of 250-750 cc bikes. 
 
"Currently, we are looking at Latin America and South East Asia regions for our growth in international markets. We are already in Colombia and now figuring out a way to enter Brazil, the biggest market in Latin America. So that's on the horizon," Royal Enfield CEO Siddhartha Lal said while addressing reporters. 
 
He, however, did not divulge in any details regarding the time frame of this speculated entry. 
 
"Indonesia is among the largest two-wheeler markets in the world. We have opened a store in Jakarta. Thailand is a very developed market for mid-segment and we aim to open our first dealership there soon," Lal said. 
 
Lal added that the company would first like to create awareness about the Royal Enfield brand in these markets, before it expands there. 
 
<a href="http://www.motorcycle-usa.com/wp-content/uploads/2016/11/royal-enfield.jpg">Image source</a>

And now, Royal Enfield to make its way into the Brazilian market

<a href="http://www.businessinsider.in/searchresult.cms?query=Royal+Enfield">Royal Enfield</a> is looking to launch two new models by 2017. These would be based on the new engine architecture. 
 "The first model based on the new engine platform will be out next year. Another model will follow in 2017," <keyword id="80296" type="CITY" weightage="80" keywordseo="Eicher-Motors">Eicher Motors</keyword> Managing Director and CEO Siddhartha Lal said. 
 The company currently sells models like <keyword id="6371685" type="ORGANIZATION" weightage="60" keywordseo="Bullet">Bullet</keyword>, <keyword id="6396441" type="PERSON" weightage="60" keywordseo="Classic">Classic</keyword>, <keyword id="890894" type="COMPANY" weightage="60" keywordseo="Thunderbird">Thunderbird</keyword> and <keyword id="485822" type="ORGANIZATION" weightage="60" keywordseo="Continental-GT">Continental GT</keyword>. It is developing two engine platforms. 
 
Image credit: Indiatimes

Royal Enfield launching two models in next two years

<keyword id="94237" type="COMPANY" weightage="100" keywordseo="Royal-Enfield">Royal Enfield</keyword> is continuing to expand its retail footprint in India. To meet the robust demand, <keyword id="80296" type="CITY" weightage="100" keywordseo="Eicher-Motors">Eicher Motors</keyword> plans to double manufacturing capacity of Royal Enfield to 9 lakh units per annum by 2018. 

	"Royal Enfield continues to have a strong demand for its products and has a very strong order book. We are on track to produce 4,50,000 motorcycles by the end of this year," Eicher Motors MD Siddhartha Lal told PTI. 
 

	The additional capacity will primarily come from the first phase of Royal Enfield's third manufacturing facility at Vallam Vadagal inTamil Nadu, the company said in a statement. 
 

	This will take the combined capacity of Royal Enfield to 9,00,000 motorcycles annually by 2018, it added.
 

	"By the end of the year, we plan to have 500 dealerships across India in a single unified retail identity," Lal said. 
 

	Royal Enfield also announced its first direct distribution subsidiary outside India, in North America in August this year. 
 

	"North America is a nodal market for motorcycles and one of the biggest in value terms. Given its critical importance to our global ambitions, we have decided to operate our wholly-owned subsidiary there," Lal said. 
 

	Headquartered in Milwaukee, Wisconsin, the Royal Enfield team will be led by Rod Copes, President Royal Enfield North America, and will directly conduct all market development and sales activities. 
 

	"We will open our first exclusive branded retail store in the United States in Milwaukee in first half of 2016", Lal said..

	 
	 
	(Image credits: Indiatimes)

Eicher Motors to double manufacturing capacity of Royal Enfield to meet demand

<keyword id="94237" type="COMPANY" weightage="80" keywordseo="Royal-Enfield">Royal Enfield</keyword> recently launched a limited edition of bikes, gears and accessories inspired by the 'despatch riders' from the World Wars. These will only be available online. 
 
The ‘despatch riders’ conveyed critical information between headquarters and ground forces during the World Wars 
 According to media reports, the limited edition range based on the <keyword id="94215" type="UNKNOWN" weightage="80" keywordseo="Classic-500">Classic 500</keyword> model would only have 600 units manufactured. This includes 200 units of each of the three colours. Add to that gears and accessories like leather jackets and shoes with ankle guards. 
 
"These bikes can be booked online from our gear stores and deliveries would begin by July 15," Siddhartha Lal, CEO, Royal Enfield told reporters. 
 
 The company plans to sell these in domestic and 50 international markets. 
 
"We currently have around 400 outlets across the country. We sell gear and accessories from 250 of these outlets. By the end of the year we plan to have around 500 total outlets and we aim to sell gear from around 400 outlets", Lal said. 
 
The Chennai-based firm currently sells several models including the Bullet, Classic and Thunderbird. 
 
(Image credit: Quikr and Wikipedia)

Royal Enfield launches limited edition World War military bike range

<a href="http://www.businessinsider.in/searchresult.cms?query=royal+enfield">Royal Enfield</a> has launched an all terrain 411-cc bike, Himalayan, priced at Rs 1.55 lakh (ex-showroom Maharashtra). 
 <keyword id="94237" type="COMPANY" weightage="20" keywordseo="Royal-Enfield">Royal Enfield</keyword>’s Himalayan <a href="http://www.businessinsider.in/searchresult.cms?query=bikes">bike</a> has a purpose-built ground-up design and is capable to go-anywhere, which will redefine adventure touring in India. 
 
Himalayan is fitted with a five-speed gearbox and 24.5 BHP engine. It is the first model to be built on the two new engine platforms the company is developing. Multiple products could be launched on the two new engine platforms. The new products would be in the range of 250 cc to 750 cc. 
 
The first grounds up motorcycle from Royal Enfield after <a href="http://www.businessinsider.in/searchresult.cms?query=eicher+motor">Eicher Motor</a> took over the British brand, the booking for Himalayan begins from Thursday and deliveries for motorcycle will start by the end of the month. 
 
"We are creating a new segment of adventure tourer in India. We hope to get a lot of adventure bikers through this. We will have to wait and see if it is adopted very quickly or gradually picks up," said Eicher Motors MD and CEO Siddhartha Lal. 
 
The company plans to produce up to 9 lakh <a href="http://www.businessinsider.in/searchresult.cms?query=motorcycles">motorcycles</a> by end of 2018 from its two existing manufacturing facilities and a third upcoming facility in Tamil Nadu. 
 
Aiming to become the leader in the global mid-sized motorcycle industry, Royal Enfield is also building two new technology centres -- one in India and another in the UK, to enhance capability and execute long-term product strategy. 
 
(Image: Indiatimes)

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Royal Enfield maker Eicher Motors re-appoints Siddhartha Lal as MD amid a salary hike tussle

PTI

Chemplast Sanmar's weak listing price reflects the fear around the chemical maker's debt pile

Bhakti Makwana

Maruti’s R C Bhargava says India has not been able to build ‘an economy as strong’ as its neighbours, calls country’s health infra ‘inadequate’

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Eicher Motors Q3 net profit declines 6 pc to Rs 499 cr

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Sensex, Nifty at record high led by surge in IT stocks — these are the top movers in trade

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And now, Royal Enfield to make its way into the Brazilian market

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Royal Enfield launching two models in next two years

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Eicher Motors to double manufacturing capacity of Royal Enfield to meet demand

BI India Bureau

Royal Enfield launches limited edition World War military bike range

BI India Bureau

Newly launched Royal Enfield’s ‘Himalayan’ will redefine adventure touring

BI India Bureau

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