Hero MotoCorp hits 52-week high on strong February sales
.jpg)
Shares of Hero MotoCorp (HMCL) has moved higher to its 52-week high of Rs 2,834, up 6% on the National Stock Exchange (NSE) after the company clocked a double digit growth in two-wheeler sales in the month of February 2016.
Bucking the sluggish industry trend, HMCL sold 550,992 units of two-wheeler in February 2016, as compared to 484,769 units in the corresponding month last year, reflecting a robust double digit growth of 13.6%.
"These numbers have been possible in spite of the production at Hero’s manufacturing facilities at Gurgaon and Dharuhera in Haryana and at Neemrana in Rajasthan being impacted for a few days, due to the local agitations in the region during the month,” the world’s largest two-wheeler manufacturer, said in a statement.
In February, the new scooter Duet – developed by Hero’s in-house R&D team - was also rolled out in East Zone. It had earlier been launched across markets in the West and South Zones and has received a positive response from customers.
The other scooter to have been developed in-house – Maestro Edge - has also consolidated market share and - together with Duet - contributed towards increased market share for Hero in the scooter segment, it added.
At 09:45 AM, the stock was trading at Rs 2,823 on the NSE as compared to 1.3% gain in the S&P BSE Sensex. A combined 286,978 shares changed hands on the counter on the NSE and BSE.
Other Latest News
.webp)
The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
"What happens is, when you win the election, EVMs (electronic voting machine) are not tampered. When you lose the election, EVMs are tampered (with)," remarked a bench of Justices Vikram Nath and P B Varale.
.webp)
The Bharatiya Janata Party (BJP) would not rush into announcing its chief ministerial candidate until the distribution of portfolios in the new Maharashtra government is finalised, party sources said on Tuesday.
The indications that the Mahayuti coalition's decision on who would become the next CM would be delayed emerged as the Governor on Tuesday morning asked Eknath Shinde to act as a caretaker chief minister after he tendered his resignation.
.webp)
Anurag Agrawal, Dean of Biosciences and Health Research at Ashoka University, in a conversation with Economic Times, has claimed that every resident of Delhi is developing lung damage as deadly smog continues to blanket the Capital city.
Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
.webp)
India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
.webp)
The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
.webp)
.webp)
.webp)
.webp)
.webp)
