Hero MotoCorp falls after planning to increase prices of motorcycles, scooters from April
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Hero MotoCorp is currently trading at Rs. 3009.85, down by 24.95 points or 0.82% from its previous closing of Rs. 3034.80 on the BSE.
The scrip opened at Rs. 3023.00 and has touched a high and low of Rs. 3049.60 and Rs. 3000.00 respectively. So far 17586 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3628.55 on 18-Feb-2021 and a 52 week low of Rs. 1526.85 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 3141.55 and Rs. 3000.00 respectively. The current market cap of the company is Rs. 60141.84 crore.
The promoters holding in the company stood at 34.76%, while Institutions and Non-Institutions held 55.87% and 9.37% respectively.
Hero MotoCorp is planning to increase prices of its motorcycles and scooters by up to Rs 2,500 from next month in order to partially offset the impact of increase in commodity costs. The company will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021. The price hike has been necessitated to partially offset the impact of increased commodity costs. The company has accelerated its cost-savings programme to ensure minimal impact on the customer.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
