Page 13 - Hero Motocorp

Top headlines: Hero Moto targets enhanced mkt share, market wrap and more

Business Standard brings you the top headlines at this hour

With margins back to pre-Covid level, Hero Moto targets enhanced mkt share

With its margins back to pre-Covid levels, Hero MotoCorp is now looking at sustainable growth, enhancing market share across segments on the back of new product launches over the next few quarters, according to a top company executive. The country's largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings. The company is also on track to introduce its electric vehicle range in 100 cities by this year-end with a focus on attaining clear leadership in the vertical. "The ICE (internal combustion engine) business margins are now 14.5 per cent. Effectively, it means that we are back to pre-Covid levels which were around 14 per cent," Hero MotoCorp CEO Niranjan Gupta said in an analyst call. Therefore, moving forward, having covered the margins back to pre-Covid levels, the company's singular focus is going to be growth and market share on the back of lots of launches that have been done an

Sunil Munjal to exit Hero MotoCorp as part of family agreement in 2016

The management and control of listed entity vested with the family Group and Sunil Kant Munjal resigned as joint managing director in the listed entity

Hero MotoCorp misses Q1FY24 profit view on reduction in sales volume

India's largest motorcycle maker Hero MotoCorp on Thursday missed first-quarter profit estimates, hurt by a drop in sales volume

Hero MotoCorp faces tax probe over links to vendor Salt Experiences

A spokesperson for Hero MotoCorp said the company would issue a statement on the matter soon. Salt could not be reached for comment

Hero MotoCorp receives over 25,000 bookings for India-made Harley-Davidson

Indian bike maker Hero MotoCorp on Tuesday said it received over 25,000 bookings for the world's cheapest Harley Davidson motorcycle, sending shares up over 3%.

Hero MotoCorp rides 4% higher on strong Harley Davidson X440 bookings

In an exchange filing, the company said that it would start production of the Harley Davidson X440 in September 2023 and commence deliveries from October onwards

ED seizes Rs 25 cr worth of cash, jewellery in raids on Munjal, others

Foreign and Indian currencies and gold and diamond jewellery worth about Rs 25 crore apart from "incriminating" documents were seized after raids on Hero MotoCorp executive chairperson Pawan Kant Munjal and some others, the Enforcement Directorate said on Wednesday. The federal agency raided the residences and offices of the 69-year-old billionaire businessman, the promoter of India's largest two-wheeler automobiles manufacturer, in Delhi and neighbouring Gurugram apart from that of some other entities on Tuesday. It said in a statement that a "third party service provider" company, identified as Salt Experience and Management Pvt. LTd. (SEMPL), "illegally exported foreign currency equivalent to about Rs 54 crore to various countries during the period 2014-2015 to 2018-2019 which was ultimately used for personal expenses of P K Munjal." Foreign and Indian currencies and gold and diamond jewellery worth about Rs 25 crore apart from "incriminating" documents were seized from the ...

Harley Davidson X440 to cost Rs 10,500 more; now starting at Rs 2,39,500

The company said that the production capacity has been ramped up in response to the demand trends

Hero MotoCorp July sales: Total sales drop 12% YoY; exports up 35%

Scooters have performed better than motorcycles with sales increasing by 26.45% from 24,292 in July 2022 to 30,718 in July 2023

Stocks to Watch on Aug 2: HeroMoto, Campus Activewear, Adani Wilmar, Titan

Stocks to Watch today, August 2, 2023: According to reports, Campus Activewear is expected to see a block deal for eight million shares at a price of Rs 295-300 apiece.

Hero MotoCorp and Bajaj Auto's July two-wheelers sales in slow lane

Hero's domestic sales dropped by 12.18 per cent YoY to 391,310 units. Bajaj's domestic sales dropped 13.62 per cent YoY in July

Hero Moto falls 7% from day's high amid report of PMLA case against Munjal

According to reports, a case has been registered against Chairman Pawan Munjal under the Prevention of Money Laundering Act (PMLA), 2002

ED raids Hero MotoCorp Chairman Munjal's residence; PMLA case registered

The DRI had recently apprehended a close aide of Pawan Munjal in possession of undeclared foreign currency

Hero MotoCorp targets to achieve 30% sales via digital channels by 2030

The country's largest two-wheeler maker, Hero MotoCorp, has set a target to achieve 30 per cent of its sales on digital platforms by 2030. The company, which sold 54 lakh units of motorcycles and scooters in the last fiscal year, is also looking to have 30 per cent women workforce in the organisation by 2030. "We have set an ambitious goal of achieving 30 per cent sales through digital channels by the year 2030," Hero MotoCorp Executive Chairman Pawan Munjal said in the company's annual report for 2022-23. The company, which produced 5.3 million units in 2022-23, has augmented user interface of digital channels, which have emerged as a preferred destination for customers' pre- and post-purchase needs, he told shareholders. Munjal said the company has invested significantly in upgrading its information technology systems, adopting advanced analytics and Artificial Intelligence (AI) tools, and in implementing automation technologies. "Our flagship project 'Digital Factory Lighthouse

TVS Motor partners with Indian Army to celebrate Kargil Vijay Diwas

An all-women motorcycle rally has been organised to commemorate the Kargil Vijay Diwas. As a part of this, 25 women riders will ride TVS Ronin motorcycles to Dras

Harley-Davidson likely to make bikes for global markets in India: Report

The American automaker launched its most affordable bike, X440, in partnership with Hero MotoCorp in India last week

Harley-Davidson banks on Hero Moto partnership to push premium bike sales

With high customs duty impeding sales of its imported big bikes in India, Harley-Davidson is banking on the partnership with Hero MotoCorp to offer locally-produced premium models in the country, according to company's Chairman, President and CEO Jochen Zeitz. India imposes 50 per cent customs duty on imported fully built up bikes, which makes the American cult bike-maker feel that partnering with Hero has turned out to be a good decision after deciding to exit its manufacturing operations in India three years back. In an interaction with PTI, Zeitz noted that the tie-up with Hero MotoCorp is allowing the Milwaukee-based bike maker to go for "volume opportunities" by introducing a competitive product in the Indian market. "And (there is) a lot of upside with much greater manufacturing capability that Hero brings in and the willingness to invest into the business, to really build us up as a brand. So, I would say it is the right decision," he said. Zeitz noted that the company woul

Bajaj-Triumph, Hero-Harley entry shifts premium bike race into top gear

Royal Enfield is also the undisputed leader in the 250cc-350cc segment, virtually owning the market at a whopping 94 per cent share

Eicher Motors extends fall, hits over 2-month low; down 11% in 3 days

Bajaj Auto and British motorcycle brand Triumph on Wednesday launched co-developed Triumph Speed 400 and Scrambler 400 X motorcycles in India.