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Hero MotoCorp gains on acquiring 49.2% stake in Erik Buell Racing

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The announcement was made before market hours today, 1 July 2013.

Meanwhile, the S&P Sensex was up 103.30 points or 0.53% at 19,499.11.

On BSE, 3,908 shares were traded in the counter as against average daily volume of 32,885 shares in the past one quarter.

The stock hit a high of Rs 1,685 and a low of Rs 1,663 so far during the day. The stock had hit a 52-week high of Rs 2,149.95 on 29 June 2012. The stock had hit a 52-week low of Rs 1,434.05 on 15 April 2013.

The stock had underperformed the market over the past one month till 28 June 2013, sliding 4.78% compared with the Sensex's 3.79% fall. The scrip had, however, outperformed the market in past one quarter, surging 7.81% as against Sensex's 2.97% rise.

India's largest two-wheeler maker by sales has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp (HMCL) said that HMCL (NA) has agreed to invest $25 million in Erik Buell Racing, inc. (EBR) for a total stake of 49.2% in the share capital of EBR. The first tranche of $15 million has been invested by HMCL (NA) on 28 June 2013. The second tranche of $10 million is proposed to be invested within the next 9 months, HMCL said.

Hero MotoCorp's net profit declined 4.9% to Rs 574.23 crore on 1.8% growth in net sales to Rs 6072.47 crore in Q4 March 2013 over Q4 March 2012.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.

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Hero MotoCorp gains on acquiring 49.2% stake in Erik Buell Racing

Hero MotoCorp rose 1.28% to Rs 1,683.55 at 11:39 IST on BSE after the company said it has incorporated a wholly owned subsidiary in USA by the name of HMCL (NA), Inc. inter alia for the purpose of investing in Erik Buell Racing, inc.

The announcement was made before market hours today, 1 July 2013.

Meanwhile, the S&P Sensex was up 103.30 points or 0.53% at 19,499.11.

On BSE, 3,908 shares were traded in the counter as against average daily volume of 32,885 shares in the past one quarter.

The stock hit a high of Rs 1,685 and a low of Rs 1,663 so far during the day. The stock had hit a 52-week high of Rs 2,149.95 on 29 June 2012. The stock had hit a 52-week low of Rs 1,434.05 on 15 April 2013.

The stock had underperformed the market over the past one month till 28 June 2013, sliding 4.78% compared with the Sensex's 3.79% fall. The scrip had, however, outperformed the market in past one quarter, surging 7.81% as against Sensex's 2.97% rise.

India's largest two-wheeler maker by sales has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp (HMCL) said that HMCL (NA) has agreed to invest $25 million in Erik Buell Racing, inc. (EBR) for a total stake of 49.2% in the share capital of EBR. The first tranche of $15 million has been invested by HMCL (NA) on 28 June 2013. The second tranche of $10 million is proposed to be invested within the next 9 months, HMCL said.

Hero MotoCorp's net profit declined 4.9% to Rs 574.23 crore on 1.8% growth in net sales to Rs 6072.47 crore in Q4 March 2013 over Q4 March 2012.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.

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