Eicher Motors: Strike at Oragadam plant ends

The maker of iconic bike Royal-Enfield, Eicher Motors informed bourses that workers have resumed work at Royal Enfield’s Oragadam, Chennai facility and reported to work effective from Saturday, February 23, 2019. 
The company in its exchange filing said that the expected impact on the production/operations in this strike was nearly 3,200 motorcycles. 

The workers at Eicher Motors’ Oragadam plant, Chennai had called a strike from February 13, due to the transfer of three office bearers from Chennai to northern states. During this strike, the company had said that the majority of the workforce continues to report for work at the Oragadam plant. Besides, work at the company’s other facilities Vallam Vadagal and Tiruvottiyur was not disrupted. 

Also, in the previous year, there was a strike at the Royal Enfield plant which was lasted nearly 50 days and caused a production loss of around 28,000 motorcycles. 

However, the stock of Eicher Motor which opened at Rs. 20,600 apiece witnessed selling pressure amid volatile market conditions and dipped to an intra-day low of Rs. 20,333. But later it recovered and at 14.46 hours the stock was trading at Rs. 20,669.8.