Hero MotoCorp lost 3.68% to Rs 2,703 at 09:41 IST on BSE on reports that the company's promoter is planning to sell part of its holding through open market today, 18 February 2015.
Meanwhile, the BSE Sensex was up 89.33 points, or 0.31%, to 29,225.21
On BSE, so far 1.81 lakh shares were traded in the counter, compared with an average volume of 25,929 shares in the past one quarter.
The stock hit a high of Rs 2,725 and a low of Rs 2,689.15 so far during the day. The stock hit a record high of Rs 3,271.80 on 1 December 2014. The stock hit a 52-week low of Rs 1,907 on 21 February 2014.
The large-cap motorcycle maker has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.
As per reports, a promoter, Brijmohan Lall Munjal, is planning to sell 70 lakh shares, amounting to $300 million in open market today, 18 February 2015. The shares are offered at an indicative price band of Rs 2,664 to Rs 2,720 per share, a discount of 3.07% to 5.06% from its closing price of Rs 2,806.25 on Monday, 16 February 2015. The total promoter holding in Hero MotoCorp stood at 39.92%, as per the shareholding pattern as on 31 December 2014, of which 1.23 crore shares or 6.21% stake was held by Brijmohan Lall Munjal.
Hero MotoCorp reported 11.1% rise in net profit to Rs 582.98 crore on 0.6% fall in total income to Rs 6932.85 crore in Q3 December 2014 over Q3 December 2013.
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Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.
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