Hero MotoCorp surges on betting big on partnership with Harley-Davidson
Hero MotoCorp is currently trading at Rs. 3098.15, up by 69.60 points or 2.30% from its previous closing of Rs. 3028.55 on the BSE.
The scrip opened at Rs. 3049.00 and has touched a high and low of Rs. 3104.85 and Rs. 3031.00 respectively. So far 29780 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3,104.85 on 05-Jul-2023 and a 52 week low of Rs. 2246.75 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 3104.85 and Rs. 2831.05 respectively. The current market cap of the company is Rs. 61781.05 crore.
The promoters holding in the company stood at 34.77%, while Institutions and Non-Institutions held 54.87% and 10.36% respectively.
Hero MotoCorp is betting big on partnership with iconic American brand Harley-Davidson and record product launches on its own to scale up its presence in the premium segment. The company is in the process of introducing a record number of new products in the premium segment (150cc-450cc) over the next two years to get to its 'rightful place' in the vertical. The company and iconic American motorcycle-maker Harley-Davidson have launched their co-developed premium motorcycle -- the Harley-Davidson X440 in India. The collaboration would also enable Harley to enter affordable segments, allowing more people to buy the iconic brand in the country.
In October 2020, Hero MotoCorp and Harley-Davidson announced a partnership for the Indian market. The deal envisaged Hero MotoCorp developing and selling a range of premium motorcycles under the Harley-Davidson brand name in the country. It is also entrusted to take care of service and parts requirements for Harley bikes. Hero MotoCorp also has the mandate to sell Harley accessories and general merchandise, riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and its existing sales network in the country.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.