Hero MotoCorp scales record high on robust August sales

Hero MotoCorp rose 1.82% to Rs 2,809.40 at 09:34 IST on BSE after total sales rose 21% to 5.58 lakh units in August 2014 over August 2013.

The sales figures were announced after market hours on Monday, 1 September 2014.

Meanwhile, the BSE Sensex was up 76.74 points, or 0.29%, to 26,944.29

On BSE, so far 10,804 shares were traded in the counter, compared with an average volume of 85,358 shares in the past one quarter.

The stock hit a record high of Rs 2,819 in intraday trade today, 2 September 2014. The stock hit a low of Rs 2,770 so far during the day. The stock hit a 52-week low of Rs 1,879 on 3 September 2013.

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

All the recent launches - including the new Karizma, ZMR Xtreme, Passion Pro TR and the New Pleasure scooter - have received overwhelming response from customers, and the Splendor iSmart continues to drive volumes in the market, Hero MotoCorp said.

Hero MotoCorp said it will keep up with the growth momentum for the festive season with as many as 10 new launches including new models, upgrades and refreshes during this period. Splendor Pro Classic will be available in dealerships across the country in the coming weeks, the company said.

Hero MotoCorp's net profit rose 2.6% to Rs 562.76 crore on 14% increase in total income to Rs 7149.59 crore in Q1 June 2014 over Q1 June 2013.

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

Powered by Capital Market - Live News