Shares of Hero MotoCorp and Bajaj Auto posted sharp gains, while that of Eicher Motors extended their losses on Wednesday. The stock of Hero MotoCorp rose 4.2 per cent, extending its two-day gain to 9 per cent, while Bajaj Auto rose 5.7 per cent — the most among Nifty50 components.
Eicher, on the other hand, fell 2.7 per cent, taking its two-day loss close to 9 per cent.
The latest price action followed the launch of premium motorcycles by Hero and Bajaj, threatening to challenge Eicher-owned Royal Enfield’s (RE) domination in the segment. Hero and Harley-Davidson launched their first jointly developed premium motorcycle X440 while Bajaj, in collaboration with UK’s Triumph Motorcycles, unveiled Speed 400 and Scrambler 400x. The price point of the new bikes is similar to RE’s top-selling Classic 350 but have more power and torque.
Analysts believe that the new launches at attractive price points will hot up the premium bike segment and see loss of market share for RE.
First Published: Jul 06 2023 | 12:11 AM IST
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