Hero MotoCorp trades higher on reporting 7% rise in total sales in May
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Hero MotoCorp is currently trading at Rs. 2847.45, up by 46.50 points or 1.66% from its previous closing of Rs. 2800.95 on the BSE.
The scrip opened at Rs. 2827.05 and has touched a high and low of Rs. 2911.65 and Rs. 2827.05 respectively. So far 38859 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2939.35 on 18-Aug-2022 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. 2911.65 and Rs. 2736.25 respectively. The current market cap of the company is Rs. 57534.41 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 has sold 519,474 units in May 2023. This translates into a growth of 7% over the corresponding month of May 2022, when the company had sold 486,704 units. The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment.
Of the total sales in May 2023, the company sold 489,336 motorcycles and 30,138 scooters as against 452,246 motorcycles and 34,458 scooters sold in May 2022. Domestic sales stood at 508,309 units in May 2023, up from sales of 466,466 units in May last year. Besides, the company's exports declined to 11,165 units in May 2023 versus 20,238 units in May 2022.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
