Hero MotoCorp rose 0.56% to Rs 2074.50 at 9:53 IST on BSE after the company said its total sales rose 9% to a record 12 lakh units in October-November this year over the corresponding period in the previous year.
The sales numbers were announced after market hours on Monday, 2 December 2013.
Meanwhile, the S&P BSE Sensex was down 9.90 points or 0.05% at 20,888.11.
On BSE, 4,153 shares were traded in the counter as against average daily volume of 16,000 shares in the past two weeks.
The stock was volatile. The stock rose as much as 0.79% at the day's high of Rs 2079.30 so far during the day. The stock lost as much as 0.33% at the day's low of Rs 2056 so far during the day.
Hero MotoCorp (HMCL) said that riding on overwhelming market demand for its range of popular motorcycles and scooters during the festive season, the company reported its highest-ever record retail sales for any festive period (October-November).
Further strengthening its market leadership, HMCL's despatches rose 5.62% to 5.30 lakh units in November 2013 over November 2012.
Commenting on the development, Mr. Anil Dua, Sr. Vice President (Marketing & Sales), HMCL said, "We have grown from strength to strength this financial year. Coming close on heels of 7% retail growth in the first half of this fiscal, we have retailed a record 12 lakh units plus of two-wheelers in the two festive months of October and November. This is our highest-ever retail sales for this period, and has come along with another record that we created within this period - the 1.10 lakh two-wheeler retail sales in a single day on Dhanteras. Despite a sluggish market environment, we have been able to achieve such robust volumes due to a slew of strategic initiatives that we rolled out. The path-breaking 5-year warranty on our entire range of motorcycles and scooters has received an overwhelming response from our customers, as have our several brand and corporate campaigns. The best-in-class fuel efficiency of our two-wheelers across categories, the easy availability of our genuine spare parts, the large network of over 5,500 touch points and our strong rural presence have all contributed to this strong performance".
Mr. Dua added, "We now plan to build further on this momentum as we complete the phase-wise launch of the 15 new offerings that we had announced ahead of the festival. With all this action, we are confident of further strengthening on our leadership in the Indian market".
Hero MotoCorp's net profit rose 9.3% to Rs 481.41 crore on 10.6% growth in net sales to Rs 5696.46 crore in Q2 September 2013 over Q2 September 2012.
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity
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