 "Eicher Motors hits record high after Royal Enfield acquires UK-based firm")
Shares of Eicher Motors were trading higher by 2% at Rs 17,215 on the BSE in otherwise weak market after Royal Enfield, a division of the company, said it acquired UK based Harris Performance Products.
Harris Performance is one of the leading experts in designing and manufacturing of specialised high performance motorcycle chassis and components.
Under the terms of the deal, Royal Enfield will acquire all assets, employees, trade names, technical know-how and intellectual property of Harris Performance Products, the company said in a statement.
Alongside successful relationships with the Royal Enfield brand, Harris Performance has been the only manufacturer from UK to have been officially commissioned by Yamaha and Suzuki to design, develop and manufacture race bikes for Grand Prix and World Superbike, it added.
The stock opened at Rs 16,965 and hit a record high of Rs 17,269 on the BSE. A combined 84,194 shares changed hands on the counter till 1427 hours on the BSE and NSE. The S&P BSE Sensex was down 2% at 26,954 points.
Harris Performance is one of the leading experts in designing and manufacturing of specialised high performance motorcycle chassis and components.
Under the terms of the deal, Royal Enfield will acquire all assets, employees, trade names, technical know-how and intellectual property of Harris Performance Products, the company said in a statement.
Alongside successful relationships with the Royal Enfield brand, Harris Performance has been the only manufacturer from UK to have been officially commissioned by Yamaha and Suzuki to design, develop and manufacture race bikes for Grand Prix and World Superbike, it added.
The stock opened at Rs 16,965 and hit a record high of Rs 17,269 on the BSE. A combined 84,194 shares changed hands on the counter till 1427 hours on the BSE and NSE. The S&P BSE Sensex was down 2% at 26,954 points.