Shares of Eicher Motors, the listed parent of Royal Enfield, the global leader in middleweight motorcycles, crashed as much as 6.26 per cent to Rs 3402.00 apiece on the BSE at market close on Tuesday. The stock came under selling pressure after American motorcycle manufacturer Harley-Davidson, in collaboration with India's largest two-wheeler manufacturer, Hero MotoCorp, unveiled the X440 motorcycle in India.

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Even as Eicher Motors' share price slid on Tuesday, Hero Moto Corp's share price went considerably up, gaining 4.45 per cent to Rs 3,028.55 on the BSE at close on Tuesday. 

Hero Moto Corp announced its two-wheeler sales results for June on Monday, witnessing a dip of around 10 per cent. 

This affordable bike is their joint endeavour aimed at rivalling industry leaders like Royal Enfield, Honda, and Bajaj's Triumph. The launch of the X440 showcases a strategic effort to expand the market and attract new customers while disrupting the dominance of Royal Enfield in the mid-sized segment. READ MORE

The ex-showroom price for the X440 motorcycle is Rs 2.29 lakh. The company has launched three variants of the bike- Denim, Vivid and S.

On the other hand, the ex-showroom price for Royal Enfield Hunter is Rs 1.50 lakh, while its Classic 350 variant comes at Rs 1.93 lakh. The ex-showroom price for Bullet (Black) is Rs 1.60 lakh.