Eicher Motors slips to 52-week low of Rs 16,389 on speculative reports

Eicher Motors share price fell from the opening level of Rs 17,100 to Rs 16,176.20 during the day, ending at Rs 16,389

The share price of Eicher Motors fell to a 52-week low of Rs 16,389 on Wednesday after speculation that HDFC Bank stopped dealer inventory financing to its two-wheeler business Royal Enfield.
 
Market speculation started after HDFC Bank sent messages to a few dealers regarding inventory funding, said sources. Sources said the bank sent messages to a handful of dealers of Royal Enfield following deliberations regarding funding to them, which got misconstrued. In a clarification issued on Wednesday, the bank said, “This communication is limited to inventory funding for the dealer only and not retail finance. Secondly, it has been