Strong sales forecast lifts Hero Honda

DALAL STREET SPIKES

The Hero Honda scrip was in the limelight on the bourses on Thursday on good buying support. Brokers said that investors lapped up the counter on expectations of strong sales.

The counter hit a high of Rs 476.15 before closing at Rs 473.15, up 5.97 per cent from Wednesday's close. It was the biggest gainer in the BSE Sensex basket. More than 4.12 lakh shares were traded on the BSE.

Players said that expectations of strong sales for the current month have helped investor sentiment. Sales for November are expected to up due to the festive season of Diwali.

Analysts added that the scrip had witnessed some selling pressure in the recent past but has been attracting buying on the back of expected higher sales.