Business Standard

Hero MotoCorp bounces back 5% from intra-day low

The management said that sales so far in the current festive season have been in line with sales in the festive season a year ago, showing a positive bias

SI Reporter  |  Mumbai 

(HMCL) is trading higher by over 2% at Rs 1,834 bouncing back 5% from intra-day low after the management said that sales so far in the current festive season have been in line with sales in the festive season a year ago, showing a positive bias.

“The company is selling close to 26,000 vehicles per day during the ongoing Navratri festive season. The company has begun dispatches of new 110cc Passion X-pro and expects it to be available by Diwali. Also, 125cc segment (Super Splendour, Glamour and new Ignitor) is witnessing strong demand. In case of scooters, Maestro sales are also going up,” Hero MotoCorp said in a conference call.

Meanwhile, most of the analysts are cautions on outlook of the company as Honda Motorcycle & Scooter India (HMSI) focus on entry level motorcycles, with the launch of new products will result in intense competition.

“HMCL’s current inventory in the system is over 6 weeks, while festive demand indicates sequential volume improvement, though on YoY basis it is more or less flat. This would result in lower dispatches over next 2-3 months, which may lead to flat volume in H2FY13” according to analyst at Karvy Stock Broking.

The stock opened at Rs 1,768 and hit a low of Rs 1,753 on the NSE. A combined 3.28 million shares have changed hands on the counter so far on both the exchanges.

RECOMMENDED FOR YOU

Hero MotoCorp bounces back 5% from intra-day low

The management said that sales so far in the current festive season have been in line with sales in the festive season a year ago, showing a positive bias

Hero MotoCorp (HMCL) is trading higher by over 2% at Rs 1,834 bouncing back 5% from intra-day low after the management said that sales so far in the current festive season have been in line with sales in the festive season a year ago, showing a positive bias.

(HMCL) is trading higher by over 2% at Rs 1,834 bouncing back 5% from intra-day low after the management said that sales so far in the current festive season have been in line with sales in the festive season a year ago, showing a positive bias.

“The company is selling close to 26,000 vehicles per day during the ongoing Navratri festive season. The company has begun dispatches of new 110cc Passion X-pro and expects it to be available by Diwali. Also, 125cc segment (Super Splendour, Glamour and new Ignitor) is witnessing strong demand. In case of scooters, Maestro sales are also going up,” Hero MotoCorp said in a conference call.

Meanwhile, most of the analysts are cautions on outlook of the company as Honda Motorcycle & Scooter India (HMSI) focus on entry level motorcycles, with the launch of new products will result in intense competition.

“HMCL’s current inventory in the system is over 6 weeks, while festive demand indicates sequential volume improvement, though on YoY basis it is more or less flat. This would result in lower dispatches over next 2-3 months, which may lead to flat volume in H2FY13” according to analyst at Karvy Stock Broking.

The stock opened at Rs 1,768 and hit a low of Rs 1,753 on the NSE. A combined 3.28 million shares have changed hands on the counter so far on both the exchanges.

image

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
Take Solutions 154.85 19.99
Vijaya Bank 34.30 15.88
Sequent Scien. 864.25 15.19
Jindal Steel 63.45 10.44
Yamini Invest 46.65 9.64
> More on BSE Gainers
Company Price() Chg(%)
Vijaya Bank 34.25 16.10
Federal-Mogul Go 339.10 12.06
Jindal Steel 63.50 10.63
Suzlon Energy 15.75 9.38
Lupin 1802.85 9.08
> More on NSE Gainers
Company Price() Chg(%)
SE Investments 181.10 -7.01
Alembic Pharma 596.55 -5.77
Crompton Greaves 126.90 -5.33
ISGEC Heavy 4484.50 -5.12
Bosch 16133.20 -4.97
> More on BSE Gainers
Company Price() Chg(%)
Alembic Pharma 593.20 -6.33
Bosch 16089.10 -5.24
Ess Dee Alumin. 165.15 -4.98
Zydus Wellness 700.00 -4.68
J B Chem & Pharm 256.95 -4.46
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price