Hero Moto reports increase in sales
The company reported 13.52 per cent increase in the sales of motorcycles and scooters for the month of May 2019 compared to April 2019.
Hero MotoCorp Limited's sales of motorcycles and scooters for the month of May 2019 were 6,52,028 units as compared to 5,74,366 units for the month of April 2019. For the first time after the sales of 6,17,215 units in the month of February 2019. The company has achieved its target of 6 lakh plus monthly sales. The company has also launched three new motorcycle products and two new scooter products for which the bookings have already commenced increasing the revenue for the company.
Owing to good sales figures, on Monday morning, the market reacted to with an increase of 4.24 per cent in the stock price of Hero Moto at Rs. 2,795 from its previous closing price of Rs. 2,681.40. The 52-week high for the stock price is Rs. 3,819 while 52-week low is Rs. 2,476 on BSE. The stock was seen trading at around Rs. 2,794.40, which is an increase of Rs. 113 from its previous day's closing price.
Hero MotoCorp Limited is an Indian motorcycle and scooter manufacturer based in New Delhi. The company has 46 per cent market share in the two-wheeler category in India.