Hero MotoCorp skids after weak sales in December
Hero MotoCorp fell 1.34% to Rs 2,986.15 at 9:17 IST on BSE after the company announced that sales fell 33.91% to 3.3 lakh units in December 2016 over December 2015.
The announcement was made before market hours today, 3 January 2017.Meanwhile, the BSE Sensex was down 41.44 points, or 0.16% to 26,550.23.
On the BSE, so far 1,476 shares were traded in the counter, compared with average daily volumes of 27,493 shares in the past one quarter. The stock had hit a high of Rs 3,005.70 and a low of Rs 2,966 so far during the day.
Hero MotoCorp's manufacturing facilities at Gurgaon, Neemrana and Haridwar were closed from 26-31 December 2016 on account of annual maintenance.
The company's sales rose 4.3% to 67.62 lakh units in calendar year 2016 over calendar year 2015. It was the highest ever sales in a calendar year.
Net profit of Hero MotoCorp rose 27.7% to Rs 1004.22 crore on 14.2% rise in net sales to Rs 7669.53 crore in Q2 September 2016 over Q2 September 2015.
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.
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First Published: Jan 03 2017 | 9:17 AM IST