Eicher Motors Share Price: Eicher Motors becomes Nifty’s top loser, big fall in shares due to Delhi EV policy

Business Desk – Eicher Motors Share Price: A big fall was seen in Eicher Motors Share Price on Tuesday. After sharp selling in early trade, the stock recovered from lower levels, but till afternoon it remained the top loser of Nifty.

At around 12 noon, the company’s shares were trading around Rs 7,138 on NSE, falling by Rs 290 or 3.91 percent. During the day the stock made a high of Rs 7,392.50 and a low of Rs 6,942.50. At the same time, its 52 week high level is Rs 8,230 and low level is Rs 5,353.

Delhi’s new EV policy became a major reason for the decline

According to market experts, the main reason for the fall in the shares of Eicher Motors is the new EV policy of the Delhi government. Under this policy, there will be new registration of only electric two-wheelers (EV Two-Wheelers) in Delhi from April 1, 2028.

At the same time, new registration of petrol and other ICE (Internal Combustion Engine) two-wheelers will be stopped from January 1, 2028. Delhi accounts for about 3 percent of the total two-wheeler market in the country, due to which this decision may have an impact on auto companies.

Increased challenge for Royal Enfield

The new EV policy is being considered a big blow for Royal Enfield. The company currently has only one electric model in its portfolio and its presence in the EV segment in Delhi is limited.

According to Society of Indian Automobile Manufacturers (SIAM) data, Royal Enfield has about 3.3 percent share in the total two-wheeler market in Delhi. In such a situation, the company which has a strong hold on petrol motorcycles is now facing the challenge of rapid expansion in the electric segment.

Increased pressure to increase EV range

Auto sector experts say that companies which do not have a strong electric portfolio will have to launch new EV models rapidly in the coming times. If this does not happen then their share in a big market like Delhi may be affected. In view of the new deadline, the pressure on Royal Enfield to expand its electric range has increased significantly.

Company’s performance remained strong in FY26

However, on the operating performance front, Eicher Motors has had a strong financial year 2025-26 (FY26). The company has recorded record revenue, EBITDA and net profit during this period. Despite this, the market currently seems worried about future challenges and EV transition.

Nomura’s opinion on Delhi EV policy

Brokerage firm Nomura believes that Delhi’s new EV policy may have the biggest impact on Indraprastha Gas Limited (IGL), because the increase in the number of electric vehicles may reduce the demand for CNG in the long run. However, its direct impact on MGL is expected to be limited. At the same time, the impact on Gujarat Gas will be relatively less and in future, domestic and industrial PNG business can become the main basis of its growth.