Shares of the two-wheeler major gained 2.27% to Rs 2,731.55 after the company announced increase in the prices across models owing to increase in inflation.
The price revision will be up to Rs 3,000. The exact amount of increase will be subject to the specific model and market. The new prices will come into effect from 1 July 2022.The price hike has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices, the company said.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters.
The two-wheeler major's standalone net profit declined 27.51% to Rs 627.05 crore on 14.55% fall in net sales to Rs 7,421.73 crore in Q4 March 2022 over Q4 March 2021.
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