Hero MotoCorp inches up after decent sales in July

Hero MotoCorp rose 0.15% to Rs 2,600 at 14:54 IST on BSE after total motorcycle sales rose 9% to 5.29 lakh units in July 2014 over July 2013.

The company made the announcement during trading hours today, 1 August 2014.

Meanwhile, the BSE Sensex was down 401.20 points, or 1.55%, to 25,493.77.

On BSE, so far 62,000 shares were traded in the counter, compared with an average volume of 70,792 shares in the past one quarter.

The stock hit a high of Rs 2,617 and a low of Rs 2,571 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 1,777.80 on 2 August 2013.

The stock had underperformed the market over the past one month till 31 July 2014, falling 1.19% compared with 1.89% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 18.33% as against Sensex's 15.51% rise.

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

Hero MotoCorp reported its highest-ever quarterly sales of 17.15 lakh units of two-wheelers in Q1 June 2014, a growth of 10% over Q1 June 2013.

The company said that July has been an action-packed month for Hero MotoCorp, with the company setting up its wholly-owned subsidiary in Colombia -'HMCL COLOMBIA SAS'. Hero also commenced construction of its manufacturing plant in Colombia. With this, Hero MotoCorp will be the first Indian two-wheeler company to have a manufacturing plant in Latin America.

All the recent launches by the company, including the new Xtreme, Karizrna and ZMR are driving volumes across markets. Hero MotoCorp has also recently commenced, dispatch of the new bike - the Passion. Pro TR - to some markets, and it will be available in all dealerships within the next few weeks, the company said in a statement.

Meanwhile, Hero MotoCorp said that it extended the tenure of its Chief Financial Officer (CFO) Mr. Ravi Sud by another two years, till 31 July 2016.

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. The company will announce Q1 results on 5 August 2014.

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

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