Hero MotoCorp hits record high on strong Aug sales

The company reported 21% rise in its total sales during August 2014 at 5,58,609 units

Shares of Hero MotoCorp were up nearly 2% at Rs 2,803 after hitting a record high of Rs 2,819 as the company late Monday reported 21% rise in its total sales during August 2014 at 5,58,609 units.

The country's largest two-wheeler maker had sold 4,59,996 units in August 2013, Hero MotoCorp said in a release to the stock exchange.

"Riding on the strong demand for its range of products from customers, Hero MotoCorp reported robust sales of the month of August, thereby setting the platform the upcoming festive season.", the release said.

The company said it will keep up with the growth momentum for the festive season with "as many as 10 new launches - including new models, upgrades and refreshes" during this period.

The stock opened at Rs 2,776 and touched a record high of Rs 2,819 so far. Over 247,000 shares were traded on both the stock exchanges so far.