Hero MotoCorp gains on hope of robust sales on Dhanteras

The company expects to clock 40-50% growth in retail sales to 1.5 lakh units on Dhanteras compared to last year

Shares of Hero MotoCorp were up over 3% at Rs 3,095 after the company expects robust sales on Dhanteras, October 21, 2014 compared to the previous year.

Retail sales on October 21, 2014, Dhanteras, is expected close to 1.5 lakh units, which will be a 40-50% growth over the sales on Dhanteras day last year, the company said in a release to the stock exchange today.

The festival of Dhanteras is a day for celebrating wealth. Dhan means wealth and Teras means the 13th day as per Hindu calendar.

On Dhanteras, people buy gold jewellery and also purchase new household products and vehicles.

The stock opened at Rs 3,025 and touched a high of Rs 3,104. Over 235,000 shares were traded on both the stock exchanges so far.