Hero MotoCorp gains after strong Q2 results

Hero MotoCorp rose 1.54% to Rs 2,834.90 at 9:25 IST on BSE after net profit jumped 58.56% to Rs 763.37 crore on 21.69% growth in total income to Rs 7108.85 crore in Q2 September 2014 over Q2 September 2013.

The result was announced after market hours yesterday, 16 October 2014.

Meanwhile, the BSE Sensex was up 24.31 points, or 0.09%, to 26,023.65.

On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 40,600 shares in the past one quarter.

The stock hit a high of Rs 2,890 and a low of Rs 2,810 so far during the day. The stock hit a record week high of Rs 3,080 on 18 September 2014. The stock hit a 52-week low of Rs 1,907 on 21 February 2014.

The stock had outperformed the market over the past one month till 16 October 2014, rising 0.02% compared with 1.86% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.71% as against Sensex's 1.76% rise.

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

Hero MotoCorp's earnings before interest, taxes, depreciation and amortization (EBITDA) margin for the quarter was reported at 13.52%.

The company's total sales for the quarter stood at 16.92 lakh units.

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

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