The festive season witnessed strong customer preference for Destini and Pleasure scooters, resulting in high double-digit growth for the two models
The economy is on the mend but sustained recovery will take time: that's the picture you get by studying the July-September quarter results of 1,286 listed companies. Devangshu Datta reads the numbers
Given the sharp volatility, it is preferable to stick to leaders or top-tier players across sectors as they consolidate their position and gain market share
The world's largest two-wheeler manufacturer sold 806,848 units of motorcycles and scooters in October 2020 - its highest-ever sales in any single month
Dealers fear a weak retail demand may lead to stock pile-up
As long as Bharti Airtel's stock is able to defend Rs 440-mark, the upside bias may lead to upward rally towards Rs 480 and Rs 510 levels
The country's largest two-wheeler maker had posted a net profit of Rs 883.78 crore during the July-September period of the previous fiscal
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The company has entered into an agreement with US-based Harley Davidson for sale and service of the latter's premium motorcycles in India using the two companies' dealership networks in India
Under the agreement Hero Motocorp will produce and handle distribution and after-sales for Harley products
At the bourses, shares of Hero MotoCorp rallied 23.5 per cent during the September quarter as compared to 9 per cent gain in the S&P BSE Sensex
Two-wheeler stocks such as TVS Motor, Hero MotoCorp, and Bajaj Auto were among the top gainers on the Nifty Auto index, surging up to 1.6 per cent in the intra-day deals on the National Stock Exchange
At 12:49 pm; Nifty Auto index, top loser among sectoral indices, was down 3 per cent, as compared to 1.2 per cent decline in the Nifty50 index.
Analysts at Emkay Global believe that the recent recovery volumes will manifest into a powerful cyclical rally across segments for automobile companies
Rural sales at present are around 23 per cent of overall sales, which is nearly the same as in pre-Covid times
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The company has also appointed Sanjay Bhan as Head of Global Business to pursue rapid expansion and consolidation in the international markets, Hero MotoCorp said in a statement.
Tractor sales also increased with largest tractor seller Mahindra & Mahindra selling 18 per cent more farm equipment indicating that a good monsoon was driving the rural economy
The gains for India's largest two-wheeler makers are largely expected to come from the rural market due to a shift to personal mobility and higher sales of entry-level bikes
The company cautiously anticipates sales to continue their upward trajectory with favorable factors such as the upcoming festive season and continued government policy support