Hero MotoCorp decelerates after bulk deal

Hero MotoCorp lost 1.82% to Rs 3,708.10 at 14:39 IST on BSE after a bulk deal of 15.86 lakh shares was executed on the scrip at Rs 3,729.50 per share in opening bell on BSE.

Meanwhile, the S&P BSE Sensex was up 48.92 points, or 0.16% to 31,270.54

Bulk deal boosted volume on the scrip. On the BSE, 20.53 lakh shares were traded in the counter so far, compared with average daily volumes of 21,088 shares in the past one quarter. The stock had hit a high of Rs 3,800 and a low of Rs 3,685 so far during the day. The stock hit a record high of Rs 3,880.85 on 5 June 2017. The stock hit a 52-week low of Rs 2,844.40 on 17 November 2016.

The large-cap two-wheeler major has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Shares of Hero MotoCorp rose 2.17% to settle at Rs 3,777 yesterday, 3 July 2017 after the company reported 14% rise in sales to 6.24 lakh units in June 2017 over June 2016. Hero MotoCorp has clocked such robust volumes in the month of June on account of strong growth in both motorcycles and scooters.

The company has passed on the benefit of GST to its customers with a reduction in the prices of models across its product portfolio in most of the states from 1 July 2017, Hero MotoCorp said. The quantum of reduction ranges from Rs 400 to Rs 1800 on mass-selling models. The actual benefit varies from state to state, depending on the pre and post-GST rates. Some of the premium segment models see a reduction of up to Rs 4000 in certain markets. In one or two states, such as Haryana, where the pre-GST rates were lower than the post-GST rate, the prices of a few models have gone up marginally, the company said.

Hero MotoCorp's net profit fell 13.87% to Rs 717.75 crore on 7.86% decline in net sales to Rs 6915.20 crore in Q4 March 2017 over Q4 March 2016.

Hero MotoCorp is the world's largest manufacturer of two-wheelers.

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