Hero MotoCorp declines on demand concerns

Hero MotoCorp lost 3.13% to Rs 2,640.50 at 14:24 IST on BSE on worries below normal monsoon rains this year will impact rural demand for two-wheelers.

Shares of TVS Motor Company were down 0.08% at Rs 131.25. However, shares of Bajaj Auto were up 0.29% at Rs 2,162.70, despite forecast of poor rain.

Meanwhile, the S&P BSE Sensex was down 100.26 points or 0.39% at 25,479.95.

On BSE, so far 22,000 Hero MotoCorp shares were traded, as against average daily volume of 19,928 shares in the past one quarter.

The stock hit a high of Rs 2,725 and a low of Rs 2,635 so far during the day. The stock hit a record high of Rs 2,775.05 on 16 May 2014. The stock hit a 52-week low of Rs 1,565.95 on 25 June 2013.

The stock had outperformed the market over the past one month till 9 June 2014, surging 23.03% compared with Sensex's 11.25% rise. The scrip had also outperformed the market in past one quarter, jumping 36.08% as against Sensex's 16.7% rise.

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

Hero MotoCorp's net profit declined 3.4% to Rs 554.43 crore on 6.3% growth in net sales to Rs 6455.70 crore in Q4 March 2014 over Q4 March 2013.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.

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