Hero MotoCorp extends gain after recording all-time high volumes in October

Shares of Hero MotoCorp (HMCL) rose 4 per cent to Rs 2,937 on the BSE on Tuesday, extending its previous day’s 1 per cent gain after the company’s volumes rose 34.6 per cent year-on-year (YoY) to an all-time high in the month of October.

The world’s largest two-wheeler manufacturer sold 806,848 units of motorcycles and scooters in October 2020 – its highest-ever sales in any single month. The company had sold 599,248 units in the corresponding month of the previous year (October 2019).

A positive turnaround in customer sentiments – particularly for motorcycles across markets, continued government policy