Hero MotoCorp drops on profit booking

Hero MotoCorp lost 1.35% to Rs 2,161 at 12:29 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 93.96 points or 0.43% at 22,149.17.

On BSE, so far 10,000 shares were traded in the counter as against average daily volume of 18,112 shares in the past one quarter.

The stock hit a high of Rs 2,203.95 and a low of Rs 2,145 so far during the day. The stock had hit a 52-week low of Rs 1,434.05 on 15 April 2013. The stock had hit a 52-week high of Rs 2,214.70 on 10 December 2013.

The stock had outperformed the market over the past one month till 25 March 2014, surging 12.28% compared with the Sensex's 5.77% rise. The scrip had, however, underperformed the market in past one quarter, gaining 2.71% as against Sensex's 4.86% rise.

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

Shares of Hero MotoCorp had rallied 5.98% in three trading sessions to settle at Rs 2,190.60 on Tuesday, 25 March 2014, from a recent low of Rs 2,066.90 on 21 March 2014.

Hero MotoCorp's net profit rose 7.5% to Rs 524.66 crore on 11.3% growth in net sales to Rs 6845.91 crore in Q3 December 2013 over Q3 December 2012.

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

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