Hero MotoCorp shines on getting nod to invest in Hero FinCorp
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Hero MotoCorp is currently trading at Rs. 2753.40, up by 46.65 points or 1.72% from its previous closing of Rs. 2706.75 on the BSE.
The scrip opened at Rs. 2680.00 and has touched a high and low of Rs. 2756.20 and Rs. 2662.95 respectively. So far 11549 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. 2310.50 on 20-Dec-2021.
Last one week high and low of the scrip stood at Rs. 2777.45 and Rs. 2656.00 respectively. The current market cap of the company is Rs. 54082.28 crore.
The promoters holding in the company stood at 34.75%, while Institutions and Non-Institutions held 53.26% and 11.99% respectively.
Hero MotoCorp has received approval from its board for investment up to Rs 700 crore in Hero FinCorp (HFCL). The investment is subject to execution of definitive documents and completion of certain conditions customary to a transaction of this nature.
HFCL is in the process of raising up to Rs 2,000 crore through private placement for its business purposes. Hero MotoCorp's investment of Rs 700 crore is towards participation in this capital raise round. Prior to the proposed investment, Hero MotoCorp's shareholding in HFCL stands at 41.2 per cent. The exact shareholding of Hero MotoCorp in HFCL post the investment, will be determined upon completion of capital raise round by HFCL.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
