Hero MotoCorp scales record high after declaring robust sales in August

Hero MotoCorp rose 1.08% to Rs 3,585.10 at 09:36 IST on BSE after the company reported a 28% growth in total sales at 6.16 lakh units in August 2016 over August 2015.

The announcement was made after market hours yesterday, 1 September 2016.

Meanwhile, the S&P BSE Sensex was up 61.38 points, or 0.22%, to 28,484.86

On BSE, so far 8,319 shares were traded in the counter, compared with average daily volume of 27,812 shares in the past one quarter. The stock hit a high of Rs 3,614.35 so far during the day, which is a record high for the counter. The stock hit a low of Rs 3,569.45 so far during the day. The stock hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past 30 days till 1 September 2016, rising 9.57% compared with 2.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.71% as against Sensex's 5.89% rise.

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

At the time of announcement of the monthly sales volume data, Hero MotoCorp said the company will launch 15 new products across segments in domestic and global markets in the year ending 31 March 2017 (FY 2017) out of which three motorcycles will be introduced in the domestic market before the festive season. These include the new Achiever 150cc motorcycle and the Super Splendor and Passion PRO motorcycles with the Hero patented i3S technology.

Hero MotoCorp's net profit rose 18.13% to Rs 883.10 crore on 7.28% increase in total income to Rs 7,519.29 crore in Q1 June 2016 over Q1 June 2015.

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

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