Hero MotoCorp slips amid initial volatility

Hero MotoCorp fell 0.54% to Rs 2,641.30 at 9:24 IST on BSE after total two-wheeler sales rose 1.33% to 5.31 lakh units in March 2015 over March 2014.

The announcement was made after market hours on Wednesday, 1 April 2015. Stock market had remained closed on Thursday, 2 April 2015, on account of Mahavir Jayanti. The stock market remained closed again on Friday, 3 April 2015, on account of Good Friday.

Meanwhile, the S&P BSE Sensex was up 24.04 points or 0.09% at 28,284.18

On BSE, so far 2,434 shares were traded in the counter as against average daily volume of 53,596 shares in the past one quarter.

The stock was volatile. The stock hit high of Rs 2,673.75 and low of Rs 2,636 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 2,110 on 9 May 2014.

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

Hero MotoCorp's sales rose 6.2% to 66.31 lakh units in the financial year ended 31 March 2015 over the financial year ended 31 March 2014. The company said that it has clocked its best ever sales performance in the financial year ended 31 March 2015.

Pawan Munjal, vice chairman, managing director and chief executive officer, Hero MotoCorp said that in the financial year ended 31 March 2015, the industry continued to remain sluggish due to the overall market sentiments and the slowing rural economy. Even in such a challenging market environment, the company managed to buck the trend and registered healthy growth, further consolidating our leadership. The journey from here promises to get better and exciting, Pawan Munjal added.

Hero MotoCorp reported 11.1% growth in net profit to Rs 582.98 crore on 0.8% decline in net sales to Rs 6792.51 crore in Q3 December 2014 over Q3 December 2013.

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

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