Shares of two-wheeler maker Hero MotoCorp surged by 5% in early trade on the bourses today after the company reported its highest ever quarterly net profit of Rs 603.62 crore for the second quarter, a 19.39% jump vis-a-vis the year-ago period.
Boosted by the strong results declared after the market close yesterday, the scrip jumped 4.99% to a high of Rs 2,084 on the BSE. Hero MotoCorp was also the top Sensex gainer during morning trade.
On the National Stock Exchange, the scrip climbed 5% to Rs 2,086.25.
The company had posted a net profit of Rs 505.60 crore for the corresponding period last year.
Hero MotoCorp's previous highest quarterly net profit was Rs 597.14 crore, recorded in the July-September period of 2009-10.
The surge in the counter was in tandem with the positive trend in the broader market, with the BSE benchmark Sensex trading 174.56 points higher at 16,922.85 at 1020 hours.