Hero MotoCorp hits 11-week high; stock rallies 5%

The stock rallied 5% to Rs 3,195 trading at its highest level since September 24, 2018, on the BSE.

Shares of Hero MotoCorp hit an 11-week high of Rs 3,195 apiece, up 5% on the BSE on the back of heavy volumes, over the expectations of pick up demand in the rural market.

The stock world’s largest two-wheeler manufacturer was the top gainer among Sensex and Nifty 50 stocks. It was trading at its highest level since September 24, 2018, on the BSE.

The auto industry witnessed conservative sales off-take during the previous couple of months owing to issues like increase in insurance costs before the festive season and overall low key market sentiment. However, sales picked up