Hero MotoCorp fell 4.05% to Rs 2,258.75 at 9:19 IST on BSE after net profit after exceptional item fell 14.05% to Rs 476.53 crore on 4.31% growth in total turnover to Rs 6793.87 crore in Q4 March 2015 over Q4 March 2014.
The result was announced after market hours yesterday, 7 May 2015.
Meanwhile, the BSE Sensex was up 248.86 points, or 0.94%, to 26,847.97.
On BSE, so far 9,114 shares were traded in the counter, compared with an average volume of 76,969 shares in the past one quarter.
The stock hit a high of Rs 2,312 and a low of Rs 2,256 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 2,110 on 9 May 2014.
The stock had underperformed the market over the past one month till 7 May 2015, falling 10.83% compared with 6.72% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 15.30% as against Sensex's 7.38% fall.
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The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.
There was an impairment cost of Rs 155.04 crore ($25 million) in Q4 March 2015, pertaining to equity investment in Erik Buell Racing, Inc. a Delaware Corporation (EBR) through HMCL NA Inc, subsidiary of Hero MotoCorp's (HMCL). EBR has filed an Assignment for Benefit of Creditors under Chapter 128 of the Wisconsin Statutes, which is similar to the federal bankruptcy law of the United States of America, the company said in a statement.
Pawan Munjal, Vice Chairman, Chief Executive Officer & Managing Director of HMCL said that the auto industry has remained sluggish due to the slowing rural economy on account of poor crop realization and moderating wages in the rural markets. Going forward, the company remains cautiously optimistic in its near to medium term outlook, Munjal said. An overall improvement in the economy and positive market sentiments are required for the industry to get back to the trend of healthy double digit growth, he added. HMCL will continue to focus on its strengths and keep providing the best of products to its customers in India and across the globe, Munjal said.
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.
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