Hero MotoCorp was down 1.01% to Rs 3,543.25 at 10:06 IST on BSE, reflecting weak market sentiment, even as the company's two-wheeler sales rose 20% to 6.29 lakh units in February 2018 over February 2017.
The announcement was made after market hours on Thursday, 1 March 2018. The stock market was closed on Friday, 2 March 2018 on account of Holi.Meanwhile, the S&P BSE Sensex was down 250.23 points, or 0.73% to 33,796.71.
On the BSE, 1,753 shares were traded in the counter so far compared with average daily volumes of 12,000 shares in the past two weeks. The stock had hit a high of Rs 3,599.90 and a low of Rs 3,541 so far during the day. The stock hit a record high of Rs 4,200 on 23 August 2017. The stock hit a 52-week low of Rs 3,180 on 29 March 2017.
Riding on robust demand for its popular range of two-wheelers, Hero MotoCorp delivered a strong sales performance in February 2018, thereby further consolidating its dominant market leadership. This sales performance by the company has been driven by strong growth in scooters, in addition to the continued momentum across the range of its motorcycle brands.
Hero MotoCorp's net profit rose 4.3% to Rs 805.43 crore on 14.8% growth in net sales to Rs 7305.49 crore in Q3 December 2017 over Q3 December 2016.
Hero MotoCorp is the world's largest manufacturer of two-wheelers.
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