Hero MotoCorp rose 0.26% to Rs 1,961.20 at 11:46 IST on BSE after the company said its total two-wheeler sales rose 0.59% to 5.04 lakh units in February 2014 over February 2013.
The company announced the sales numbers after market hours on Monday, 3 March 2014.
Meanwhile, the BSE Sensex was up 185.18 points or 0.88% at 21,131.83.
On BSE, so far 5,387 shares were traded in the counter as against average daily volume of 20,828 shares in the past one quarter.
The stock was volatile. The stock rose as much as 0.65% at the day's high of Rs 1,969 so far during the day. The stock lost as much as 0.78% at the day's low of Rs 1,940.70 so far during the day. The stock had hit a 52-week high of Rs 2,214.70 on 10 December 2013. The stock had 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 3 March 2014, sliding 0.35% compared with the Sensex's 3.65% rise. The scrip had also underperformed the market in past one quarter, declining 4.49% as against Sensex's 0.44% rise.
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The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.
Hero MotoCorp (HMCL)'s total two-wheeler sales declined 10.16% to 5.04 lakh units in February 2014 over January 2014.
Mr. Anil Dua, Sr. Vice President (Marketing & Sales), HMCL, said, "We have been consistently selling over five lakh units every month, and this is clearly indicative of the inherent market demand that exists for our products. There has been an excise duty cut in the month of February and we have passed on the benefit to our customers. We are hopeful that this price cut will give a fillip to the industry and further boost demand of our products. The recent Auto Expo where we showcased over a dozen new products and concepts also seems to have strengthened the market sentiment. We plan to create further excitement in the market with as many as four models -- the newer versions of Pleasure, Xtreme, Karizma and ZMR -- ready to roll out later this month".
In keeping with its stated objective of reaching 50 global markets by 2020, HMCL launched its operations in Turkey in partnership with Asya Makina, a part of the diversified Soysal Group. The company has started its operations in this strategic market with as many as 50 outlets spread across the country, HMCL said in a statement.
At the recent Auto Expo -- the Motor Show in Delhi, HMCL showcased over a dozen models including the concepts -- the 150cc diesel two-wheeler RNT, electric motorcycle SimplEcity, 'iON' and the 620cc Hastur. It also unveiled a bouquet of exciting new scooters -- 150cc 'ZIR' in two variants, 125cc 'DARE' and the 110cc scooter 'DASH'.
Hero MotoCorp's net profit rose 7.5% to Rs 524.66 crore on 11.3% growth in net sales to Rs 6845.91 crore in Q3 December 2013 over Q3 December 2012.
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.
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