Shares of Hero MotoCorp today ended with nearly 4 per cent losses, wiping-out Rs 2,033.5 crore from its market valuation, after the company reported 5.41 per cent decline in sales in May.
The stock settled at Rs 2,607.85, down 3.76 per cent from its previous close on the BSE. During the day, it lost 3.99 per cent to Rs 2,601.35.
At the NSE, it fell by 3.74 per cent to Rs 2,608.60.
The market valuation of the company fell by Rs 2,033.5 crore to Rs 52,075.50 crore.
India's largest two-wheeler maker had yesterday reported 5.41 per cent decline in sales at 5,69,876 units in May. The firm had sold 6,02,481 units in the same month last year.
The company said there has been a slowdown in rural economy and moderating wages in the rural market but it has managed to "consistently report over five lakh unit sales month-on-month".
Meanwhile, in the broader market, the benchmark BSE Sensex tanked 660.61 points at 27,188.38.
