Hero MotoCorp surges 5%, hits over 7-month high as June sales jump 4x MoM

The two-wheeler bellwether reported wholesale dispatches for the month of June at 4.5 lakh units, up from 1.12 lakh units sold in May.

Shares of Hero MotoCorp hit an over seven-month high of Rs 2,671, surging 5 per cent, on the BSE on Thursday on expectation that two-wheeler demand could recover in the next few months. The stock was trading at its highest level since November 8, 2019.

The two-wheeler bellwether on Wednesday posted a 27 per cent year-on-year decline in wholesale dispatches for June at 4.5 lakh units. The company’s volumes jumped four-fold on a sequential basis from 112,692 units in May.

The company said that much of the demand is being supported by rural and semi urban areas. While wholesale dispatches