Hero Honda on an ascend on June sales

DALAL STREET SPIKES

Two wheeler major, Hero Honda continues to gain further after the company announced impressive June sales numbers last week. The stock in Monday's trading gained 0.82 per cent to close at Rs 515.85 after hitting an intra-day high of Rs 523.90.

The counter witnessed impressive volumes of 2.9 lakh shares at the BSE. Analyst attribute normal monsoon predictions and impressive sales figures as a fresh trigger for buying at this counter.

For June 2004, the bike major reported a 24.8 per cent surge in bike sales (including exports) to 200,922 from 160,889 in June 2004. In May 2004, the company had reported 29.7 per cent growth in sales at 2.12 lakh.

However, analysts pointed out that with competition increasing with Honda and Suzuki Motors launching bikes in the second half of the year, the sales might get impacted.