Readings of Eicher Motors and M&M; were the key negative surprise for the month. Royal Enfield motorcycle dispatches at Eicher Motors were at 60,411 units, down 16% MoM in the backdrop of rationalised channel inventory, strong addition of novel studio stores' and previously robust export demand for the 650 cc Twins. At M&M;, 19% YoY decline in tractor sales at 21,032 units was particularly jarring, and was in stark contrast to a far less steep 4.5% decline at rival Escorts. M&M; was also the worst OEM performer on a sequential basis, with all segments registering a decline....