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Hero MotoCorp accelerates after good sales in Q2

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Hero MotoCorp gained 1.01% to Rs 3,724.95 at 11:15 on after the company announced that total sales rose 11% to 20.22 lakh units in Q2 September 2017 over Q2 September 2016.

The announcement was made after market hours yesterday, 11 October 2017.

Meanwhile, the S&P Sensex was up 98.99 points, or 0.31% to 31,932.98.

On the BSE, 5,402 shares were traded in the counter so far, compared with average daily volumes of 39,382 shares in the past one quarter. The stock had hit a high of Rs 3,727.95 and a low of Rs 3,699.10 so far during the day. The stock had hit a record high of Rs 4,200 on 23 August 2017. The stock had hit a 52-week low of Rs 2,844.40 on 17 November 2016.

The stock had underperformed the market over the past one month till 11 October 2017, falling 6.54% compared with the Sensex's 0.15% fall. The stock had also underperformed the market over the past one quarter, declining 1.67% as against the Sensex's 0.27% rise. The scrip had also underperformed the market over the past one year, gaining 5.67% as against the Sensex's 13.68% rise.

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

Hero MotoCorp said that riding on robust sales of range of motorcycles and scooters, the company has set a new global record, clocking 20 lakh unit sales in the just-concluded Q2 September 2017. This is the first time globally, that any two-wheeler company has crossed the 20 lakh sales mark in any quarter, Hero MotoCorp said.

Ashok Bhasin, Head of Sales, Marketing and Customer Care, Hero MotoCorp, said that the company's overall strategy for the festive season has been integrated with the customer activation initiatives for the FIFA U-17 World Cup. Under this strategy, the company has rolled out innovative consumer engagement programmes like the Trophy Tour and has reached out to targeted consumer groups through the print, television, digital and social media platforms.

Net profit of Hero MotoCorp rose 3.50% to Rs 914.04 crore on 7.74% rise in net sales to Rs 7971.58 crore in Q1 June 2017 over Q1 June 2016.

Hero MotoCorp is the world's largest manufacturer of two-wheelers.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 12 2017. 11:29 IST