Hero MotoCorp tanks 5%, Co to announce December quarter result on Thursday

HMCL is expected to report muted performance in Q3FY20E primarily tracking decline in volumes and associated perils of negative operating leverage amidst benign raw material costs, analysts say.

Shares of Hero MotoCorp skid 5 per cent to Rs 2,348 on the BSE on Wednesday, in an otherwise strong market, ahead of its December quarter results (Q3FY20) due Thursday, February 6.

At 02:51 pm, HMCL was the top loser among the S&P BSE Sensex stocks. The benchmark index was up 0.79 per cent or 323 points at 41,112 on the BSE.

Since October 23, when the company reported its September quarter results (Q2FY20), the stock has underperformed the market by falling 13 per cent on the BSE. In comparison, the S&P BSE Sensex was up 5 per cent, while the sector