This Nifty 50 stock hit new high in weak market; zoomed 95% from 52-wk low

Shares of Hero MotoCorp hit a new high of Rs 5,349, surging nearly 4% on the NSE in Tuesday's intra-day trade, as compared to 5.8% decline in the Nifty 50.

Shares of Hero MotoCorp (HMCL) hit a new high of Rs 5,349, surging nearly 4 per cent on the National Stock Exchange (NSE) in Tuesday’s intra-day trades on expectation that macro‐economic factors shall aid the industry’s growth. In comparison, Nifty 50 was down 5.8 per cent at 21,920 at 02:28 pm.

In the past one month, the stock price of the two-wheeler (2-W) company has rallied 18 per cent. It has zoomed 95 per cent from its 52-week low of Rs 2,745.05 touched on June 20, 2023.

With commodity prices remaining stable, expectations of normal monsoons, and government spending expected