Hero Honda races ahead on institutional buying
Hero Honda was the biggest gainer among sensex stocks today, following hectic buying by institutional investors.
The share of the motorcycles major advanced by 7.59 per cent to settle at Rs 284.05 on the Bombay Stock Exchange (BSE), accompanied by a relatively higher traded volume of over 10.16 lakh shares. In the last 21 sessions, the Hero Honda scrip has risen by 23.5 per cent, from Rs 230 on October 23, 2002, to Rs 284 today.
According to market rumour, a couple of foreign institutional investors (FIIs) have been active on the Hero Honda counter. Capital International was said to be one of the buyers of the stock apart from Prudential ICICI, a domestic fund.
Dealers said the huge institutional buying was due to a slew of positive developments such as the stock
