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Hero Honda shifts into overdrive on payout, tax break hopes
DALAL STREET SPIKES
Our Markets Bureau / Mumbai December 22, 2004
Two-wheeler major Hero Honda gained more than 12 per cent in intra-day trades backed by impressive volumes. The stock spurted to its all-time high of Rs 597 before closing at Rs 557.15, up 6.8 per cent from its previous close. More than 12.1 lakh shares changed hands at the counter on BSE on Tuesday.
 
Market analysts said, the company is expected to get a lot of tax breaks with company’s plans to set up plant in Uttaranchal.
 
There are also rumours doing rounds that the company may announce a hefty interim dividend. The stock on the back of dividend expectation has soared in the past few months. From a low of Rs 416 on October 25, the stock has now appreciated nearly 34 per cent to Tuesday’s close of Rs 557.15.
 
Earlier this year, Honda Motor Company of Japan renewed its technical collaboration agreement with Hero Honda for a further period of 10 years, till 2014, improving the sentiment towards the two-wheeler major, analyst added.

 
 
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