Hero MotoCorp rose 2.86% to Rs 2,071 at 15:12 IST on BSE after the company showcased five new two-wheeler models.
The company made the announcement during trading hours today, 29 January 2014.
Meanwhile, the BSE Sensex was down 33.12 points, or 0.16%, to 20,650.39.
On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 20,810 shares in the past one quarter.
The stock hit a high of Rs 2,077.80 and a low of Rs 2,017 so far during the day. The stock hit a 52-week high of Rs 2,214.70 on 10 December 2013. The stock hit a 52-week low of Rs 1,434.05 on 15 April 2013
The stock had underperformed the market over the past one month till 28 January 2014, sliding 3.51% compared with the Sensex's 2.41% fall. The scrip had, however, outperformed the market in past one quarter, rising 0.82% as against Sensex's 0.55% rise.
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The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.
Hero Motocorp showcased five new two-wheeler models: 150-cc Hero Xtreme, 110-cc Hero Dash, 250-cc sports bike Hero HX250R, electric scooter Hero Leap and Hero RNT concept.
Hero Dash is a standard scooter powered by a 110-cc engine. Hero Xtreme motorcycle is powered by a single-cylinder 150-cc air-cooled engine. HX250R is Hero MotoCorp's all new 250-cc sports bike.
Hero Leap is India's first series hybrid scooter. The Leap is powered by lithium-ion batteries and an electric-traction motor with an onboard generator powered by an all-new 124-cc engine.
Hero RNT is a diesel concept bike that features a high torque 150-cc diesel engine that has an optional turbocharger. The RNT gets an option of being attached with an oversize generator, offered as an accessory, to make it a hybrid. Another option is a hub electric motor in the front wheel powered by an electric battery pack, to give the rider a unique two-wheel drive option.
Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp, said, "This is the dawn of a new era, indeed a significant milestone in the exciting journey that we set out on a little over two years ago. We had then promised to bring a range of all-new products and innovations that will unlock a New Age of technologically superior and youth-focused two-- wheelers. Today, we are living up to that commitment by unveiling the first of our own product range on completely new platforms, developed by our diversified pool of human talent with the power of game-changing breakthrough technologies, intellectual creativity and innovations.
"This is indeed yet another example of the India Story - the successful pursuit of our engineers to scale new technology frontiers on their own and leverage the best of technologies available around the world to make superior products which will cater to different geographies around the globe. And still, what we are showcasing here today is just a glimpse of the range of products that we are developing. There 's more to come - a slew of products, including new Concepts which you will get to see at the Delhi Motor Show in February," he said.
Hero MotoCorp's net profit rose 9.3% to Rs 481.41 crore on 10.6% growth in net sales to Rs 5696.46 crore in Q2 September 2013 over Q2 September 2012. The company unveils Q3 results on 30 January 2014.
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity
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