Eicher Motors slips nearly 6% as Volvo sell its 3.7% stake

NEW DELHI: Eicher Motors slipped as much as 5.8 per cent in trade on Thursday, after Volvo AB, which is Europe's leading truck maker, said it is exiting its seven-year-old investment in Eicher Motors.

The stock ended day at Rs 17182.35, down 5.64 per cent.

The Swedish major on Wednesday launched a sale of its 3.7 per cent stake in Eicher, the maker of Royal Enfield motorcycle. In March, Volvo had sold 4.6% stake.

In March, Volvo had sold 4.6% stake. Volvo is selling the residual stake at 0-6% discount based on Wednesday's price in a price band of Rs 17,190 to Rs 18,190 a share, ET reported quoting two people familiar with the development.