Powered by: Motilal Oswal
26/05/2021 5:36:57 PM | Source: Reuters
India`s Royal Enfield to shut manufacturing plants for three days
News By Tags | #420 #5110 #572 #5804
India`s Royal Enfield to shut manufacturing plants for three days

CHENNAI  -Eicher Motors Ltd-owned Royal Enfield will shut its three south Indian manufacturing plants for three days to ensure safety amid rising COVID-19 cases, according to an internal note seen by Reuters and two sources.

Royal Enfield - an famous brand in India, the world's biggest motorbike market, will shut its three manufacturing plants from May 27 to May 29, the internal note to workers said.

"We will resume operation from Monday, 31st May," the internal note to workers signed by Royal Enfield Chief Operating Officer B Govindarajan said.

"The above days shall be compensated later as per market needs," Govindarajan said in the note.

Royal Enfield did not immediately respond to a request seeking comment.

All the three plants are located in and around Chennai in southern Tamil Nadu state, often dubbed India's Detroit. The automaker had also shut its plants for three days earlier this month from May 13 to May 15.

Tamil Nadu is one of the worst hit states with more than 30,000 cases a day last week. The state, an auto hub known as India's Detroit, has imposed a lockdown but has allowed some factories, including auto plants, to continue operating.

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here