Hero MotoCorp jumped 4.89% to Rs 1,675 at 9:30 IST on BSE after the company hiked prices of its products, ranging from Rs 500 to Rs 1,500, with immediate effect.
Meanwhile, the BSE Sensex was up 49.73 points, or 0.26%, to 19,336.45.
On BSE, 22,000 shares were traded in the counter as against an average daily volume of 31,743 shares in the past one quarter.
The stock hit a high of Rs 1,675 and a low of Rs 1,630.15 so far during the day. The stock had hit a record high of Rs 2,278.50 on 2 May 2012. The stock had hit a 52-week low of Rs 1,434.05 on 15 April 2013.
The stock had underperformed the market over the past one month till 26 April 2013, rising 1.55% compared with the Sensex's 3.11% rise. The scrip had also underperformed the market in past one quarter, sliding 9.48% as against Sensex's 4.06% fall.
The large-cap two-wheeler major has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.
Hero MotoCorp said at the time of announcement of the Q4 results that it has hiked prices of its products, ranging from Rs 500 to Rs 1,500, with immediate effect.
The company's net profit fell 4.86% to Rs 574.23 crore on 1.79% rise in total income to Rs 6250.26 crore in Q4 March 2013 over Q4 March 2012. The company announced its Q4 results after market hours on Friday, 26 April 2013.
The company's earnings before interest taxes depreciation and amortization (EBIDTA) margin stood at 13.83% in Q4 March 2013. The company's EBIDTA operating margin stood at 13.82% in the year ended March 2013.
The company sold 15.27 lakh two-wheelers in Q4 March 2013. It reported volumes of 60.75 lakh units in despatch sales despite a sluggish market environment in the year ended March 2013.
Commenting on the company's financial performance, Mr. Pawan Munjal, Managing Director and Chief Executive Officer, Hero MotoCorp said: "FY 2013 has been a rough year for the overall Indian auto sector. Weak macroeconomic sentiment coupled with subdued consumer confidence adversely impacted the industrial growth and sales volumes. Considering the current environment, these are tough times for the auto sector in India and we remain cautiously optimistic about the growth prospects in the near term. However, having sold over 60 lakh two-wheelers in just 12 months, we have sustained our performance during the period. Being the industry leader, we have planned major initiatives to boost the industry sentiment and accelerate growth in the new financial year, mainly through new launches, campaigns, capacity addition and network expansion. In a significant step working towards our global vision, we have commenced dispatches to half a dozen new markets last fiscal and will add a few more to that tally very soon".
Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.
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