India’s leading two wheeler company Hero MotoCorp Limited gained over 2% in the morning trade on Tuesday after company posted 13% growth in its sales number in June.
The company reported that it has sold 7,04,562 units of motorcycles and scooters in June 2018 against 6,24,185 units sold in June 2017. The company also reported that it has generated a new global benchmark by selling over 2.1 million units in the Q1 FY19.
Further, to offset an increase in the manufacturing cost on account of sharp input cost and currency depreciation, Hero MotoCorp has increased the price of its vehicles by as Rs. 500 at the ex-show room price level.
At 12:40 hours on Tuesday, share price of Hero MotoCorp was quoting at Rs. 3,467.20, up Rs. 51.80 or 1.52 per cent per share on NSE. The stock opened at Rs. 3,455.0 and touched an intraday high and low of Rs. 3,484.95 and Rs. 3,440.15 respectively per share on NSE.
Pinnacle Market Investment Advisory 