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Hero MotoCorp gains after decent sales in September

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Capital Market
Last Updated : Oct 04 2016 | 9:47 AM IST

Hero MotoCorp was up 1.62% to Rs 3,580 at 9:19 IST on BSE after the company said its total sales rose 11% to 6.74 lakh units in September 2016 over September 2015.

The company announced the sales volume data after market hours yesterday, 3 October 2016.

Meanwhile, the S&P BSE Sensex was up 79.35 points or 0.28% at 28,322.64.

On BSE, so far 5,804 shares were traded in the counter as against average daily volume of 23,000 shares in the past two weeks. The stock hit a high of Rs 3,600 and a low of Rs 3,572.50 so far during the day. The stock had hit a record high of Rs 3,739.90 on 8 September 2016. The stock had hit a 52-week low of Rs 2,375 on 18 January 2016. The stock had underperformed the market over the past one month till 3 October 2016, sliding 1.55% compared with 1.01% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 10.9% as against Sensex's 4.05% rise.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

The company registered highest ever sales in any month so far in September 2016. The growth momentum was backed by a series of positive factors such as the successful market launch of the Splendor iSmart 110; augmented leadership in the 125 cc segment with the 'Glamour', emerging as the largest- selling 125 cc motorcycle in the country and the positive trend maintained by the new scooter portfolio.

Hero MotoCorp's net profit rose 18.1% to Rs 883.10 crore on 7.1% increase in net sales to Rs 7289.59 crore in Q1 June 2016 over Q1 June 2015.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.

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First Published: Oct 04 2016 | 9:13 AM IST

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