Hero MotoCorp up 5% on hopes of healthy business outlook

With the economy picking up, the management expects the demand for motorcycles and scooters to see a positive turnaround in the coming months.

Shares of Hero MotoCorp (HMCL) were up 5 per cent to Rs 2,536.65 on the BSE in Thursday’s intra-day trade after the management displayed confidence of growing ahead of the industry.

"In the coming months, the company will be able to drive profitable growth through the combination of key strategic initiatives such as acceleration of Leap-II savings program to offset the higher commodity prices and input costs and cash flow management," HMCL said.

With the macro indicators in place, the management anticipates to see double-digit growth in FY23. A combination of marriage season and mini festivals (Gudi Padwa/Ugadi)