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Hero Honda zooms on bonus buzz

DALAL STREET SPIKES

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Our Markets Bureau Mumbai
Last Updated : Feb 28 2013 | 1:54 PM IST
Two wheeler major Hero Honda was in the limelight on the back of rumours that the company is planning a bonus issue. The stock as a result witnessed aggressive buying from institution as well as retail investors.
 
The counter registered volumes of 82,300 shares at the BSE with the scrip touching an all-time high of Rs 507 before closing at Rs 505.
 
Sources added a foreign mutual fund has accumulated the stock at Rs 480-482 in Thursday's trading.
 
An auto analyst said the stock looks attractive at current levels and with the domestic demand expected to grow, the could be further buying interest.
 
Of late, the stock of Hero Honda witnessed huge interest among players on anticipation ofstrong outlook for economic growth and better consumer spending in India is expected to see the fortunes of the company rise.
 
In the last seven trading sessions, the stock has appreciated over 16 per cent from Rs 423.35 on February 3 to today's close of Rs 493.80.

 
 

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First Published: Feb 13 2004 | 12:00 AM IST

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