Hero MotoCorp gains 3%, hits over 2-year high on Co's demand forecast

The company cautiously anticipates sales to continue their upward trajectory with favorable factors such as the upcoming festive season and continued government policy support

Shares of Hero MotoCorp hit an over two-year high of Rs 3,196 on the BSE on Tuesday after rising 3.5 per cent on expectation of improving demand, going forward. The two-wheeler manufacturer's stock was trading at its highest level since December 27, 2018.

In the past three months, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has outperformed the market by surging 27 per cent, against 9 per cent rise in the S&P BSE Sensex.

Signaling a positive turn-around for the two-wheeler industry, which is a strong driver of the domestic economy, Hero MotoCorp sold 584,456