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Hero MotoCorp recovers on bargain hunting

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Capital Market
Last Updated : Jun 24 2014 | 12:02 AM IST

Hero MotoCorp rose 2.38% to Rs 2580 at 15:19 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was down 31.02 points or 0.12% at 25,074.49.

On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 72,041 shares in the past one quarter.

The stock hit a high of Rs 2,587.85 and a low of Rs 2,525 so far during the day. The stock hit a record high of Rs 2,775.05 on 16 May 2014. The stock hit a 52-week low of Rs 1,565.95 on 25 June 2013.

The stock had outperformed the market over the past one month till 20 June 2014, surging 6.36% compared with the Sensex's 2.99% rise. The scrip had also outperformed the market in past one quarter, jumping 19.55% as against Sensex's 15.48% rise.

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

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Shares of Hero MotoCorp had declined 3.47% in four trading sessions to settle at Rs 2,520 on Friday, 20 June 2014, from a recent high of Rs 2,610.75 on 16 June 2014.

Hero MotoCorp's net profit declined 3.4% to Rs 554.43 crore on 6.3% growth in net sales to Rs 6455.70 crore in Q4 March 2014 over Q4 March 2013.

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

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First Published: Jun 23 2014 | 3:18 PM IST

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