Eicher Motors rises 7% on Royal Enfield's UK firm buy

Share price of Eicher Motors surged 7 per cent to Rs 18,020 in the past two trading sessions post the announcement that the company's division Royal Enfield, the world's fastest growing motorcycle manufacturer, has acquired UK-based Harris Performance Products.

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.

Harris Performance has had a long standing relationship with Royal Enfield and was responsible for the chassis development of the brand's iconic Continental GT cafe racer model.

Siddhartha Lal, chief exeuctive officer, Royal Enfield in a release said: "Royal Enfield is working on its new generation of products and platforms; to have the Harris Performance team dedicated working with us will clearly enhance our engineering and product design capabilities."