Hero MotoCorp shares decline over 4% after 29% drop in Feb sales

Shares of Hero MotoCorp on Wednesday tumbled over 4 per cent after the company reported a 29 per cent decline in total sales in February.

The stock declined 4.29 per cent to settle at Rs 2,427.50 on the BSE. During the day, it tanked 4.51 per cent to Rs 2,421.80.

At the NSE, it tumbled 4.08 per cent to settle at Rs 2,432.

Two-wheeler market leader Hero MotoCorp had on Tuesday reported a 29 per cent decline in total wholesales at 3,58,254 units in February.

The company had dispatched 5,05,467 units in the same month of 2021, Hero MotoCorp said in a statement.

Domestic sales were also down 31.57 per cent at 3,31,462 units last month compared to 4,84,433 units in February 2021.

Motorcycle sales last month stood at 3,38,454 units compared to 4,63,723 units in same month last year.

Scooter sales also slipped to 19,800 units against 41,744 units in the year-ago month.