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Eicher Motors dips after block deal

Royal Enfield launches Himalayan bike at Rs 1.55 lakh

Eicher Motors has dipped 7% to Rs 18,380 on the National Stock Exchange (NSE) in early morning trade after more than 4% of the total equity capital of the company changed hands in the counter through a block deal.

At 09:15 am, around 1.15 million shares representing 4.25% of total equity of Eicher Motors changed hands, NSE data showed.

As of March 31, 2016, the promoters held 54.87% stake in two-three wheelers maker, while the remaining 45.13% holdings are with the public shareholders.

The stock trims early morning losses and was trading 3% down at Rs 19,226 on the NSE. It hit high of Rs 19,553 so far. A combined 1.28 million shares changed hands on the NSE and BSE.