Hero MotoCorp slips after muted November sales

Hero MotoCorp fell 0.35% to Rs 3247 at 9:17 IST on BSE after total motorcycle sales rose 3.18% to 5.47 lakh units in November 2014 over November 2013.

The announcement was made after market hours on Monday, 1 December 2014.

Meanwhile, the BSE Sensex was down 32.14 points, or 0.11%, to 28,527.48.

On BSE, so far 601 shares were traded in the counter, compared with an average volume of 42,286 shares in the past one quarter.

The stock hit a high of Rs 3,250.45 and a low of Rs 3,242.10 so far during the day. The stock hit a record high of Rs 3,271.80 on 1 December 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 1 December 2014, rising 6.42% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.08% as against Sensex's 6.30% rise.

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

In November 2014, Hero MotoCorp launched its operations in Colombia. The company introduced six of its best-selling motorcycles through a network of 120 outlets. Hero plans to expand its distribution network to over 150 outlets in a year's time. In the same month, Hero MotoCorp also rolled out the new sportier version of its 150-cc motorcycle - 'Xtreme'. In October 2014, the state-of-the-art IGBC-certified platinum-class manufacturing plant - 'Garden Factory' - of Hero MotoCorp went on stream at Neemrana in Rajasthan.

Hero MotoCorp's net profit jumped 58.6% to Rs 763.37 crore on 21.7% growth in total income to Rs 7108.85 crore in Q2 September 2014 over Q2 September 2013.

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

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