We expect Interceptor to do what Classic 350 sales did in India, Siddhartha Lal, MD and CEO of Eicher Motors told BloombergQuint in an interview.

Key highlights of the conversation:

• Classic 350 sales have done exceedingly well in India.
• Expect Interceptor to do well globally, like what Classic 350 sales did in India.
• Looking to set the stage for international markets by ramping up in select countries.
• We have seen strong response and traction in countries like Thailand and Columbia.
• We have not been sitting still, have been aggressively responding to competition.
• Brand, research and development and distribution will provide an edge over competition.
• One cannot expect to hold 90 percent market share in 250 CC plus segment.
• Premiumisation still continues to happen in Indian markets.
• Aim to grow at double the pace than the industry.
• Aim of Royal Enfield is to create desire among customers.
• Have been able to pass on most costs to customers historically.
• Costs are going to go up for the entire industry due to reasons like BS VI.

Nifty's 10,900 put option contract was among the most active option contracts on the National Stock Exchange.

Premium on the contract surged 124 percent to Rs 104.40. Over 6.5 lakh shares were reduced form the open interest which stood at 25.04 lakh shares.

On the flipside, premium on 11,000 call option contract dropped 52 percent to Rs 30.95. Over 18.14 lakh shares were added to the open interest which stood at 59.62 lakh shares.

Click here to see the complete options chain

Indian equity benchmarks extended decline dragged by Infosys, Reliance Industries, HDFC and ICICI Bank.

The S&P BSE Sensex fell 0.85 percent or 311 points to 36,120 and the NSE Nifty 50 Index dropped 1 percent or 115 points to 10,837.

All the 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Realty Index's 1.65 percent decline.

Overall breadth was bearish as 1,280 shares were declining while 677 were advancing on the BSE.

Shares of the Hyderabad-based drugmaker fell as much as 1 percent to Rs 2,600.

Aquestive and Indivior said they would file a petition with the U.S. Court of Appeals for the Federal Circuit for hearing on the ruling to vacate the preliminary injunction that enjoined Dr. Reddy’s from launching its generic buprenorphine/naloxone sublingual film.

Shares of the Mumbai-based steel-pipe maker rose close to 8 percent to over seven-month high of Rs 368.35 after it received letter of acceptance for construction of drinking water supply projects worth Rs 502.89 crore in Andhra Pradesh, according to its notification to the bourses.

The project will be completed within 24 months. The trading volume was more than 100 times the 20-day average for this time of the day, Bloomberg data showed.