Hero MotoCorp rose 0.65% to Rs 3,332.15 at 11:32 IST after the company announced price hike across different models to partially offset the commodity cost increases, effective from 1 May 2017.
The announcement was made on Monday, 1 May 2017, when domestic stock markets remained closed, for a local holiday.
Meanwhile, the S&P BSE Sensex was down 86.84 points, or 0.29%, to 29,831.56
On the BSE, 7,735 shares were traded on the counter so far as against the average daily volumes of 43,544 shares in the past one quarter. The stock had hit a high of Rs 3,382 and a low of Rs 3,303.55 so far during the day. The stock had hit a record high of Rs 3,739.90 on 8 September 2016 and a 52-week low of Rs 2,829 on 6 May 2016.
The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.
Hero MotoCorp announced price hike from Rs 500 to Rs 2,200 across different models to partially offset the commodity cost increases, effective from 1 May 2017.
Hero MotoCorp's total two-wheeler sales declined 3.5% to 5.91 lakh units in April 2017 over April 2016. The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of the transition from BS III to BS IV vehicles. With the ongoing marriage season, the company expects to maintain the trend of robust retail sales in May 2017.
Hero MotoCorp's net profit fell 2.7% to Rs 772.05 crore on 12.1% decline in net sales to Rs 6245.90 crore in Q3 December 2016 over Q3 December 2015.
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity. The company has six manufacturing plants, including five in India including Dharuhera, Gurgaon, Haridwar, Neemrana and Halol and one in Colombia.
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