Hero MotoCorp gains on getting nod to purchase additional 2.2% shares of Ather Energy
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Hero MotoCorp is currently trading at Rs. 5592.05, up by 57.95 points or 1.05% from its previous closing of Rs. 5534.10 on the BSE.
The scrip opened at Rs. 5599.15 and has touched a high and low of Rs. 5636.35 and Rs. 5540.00 respectively. So far 5281 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 5777.40 on 05-Jun-2024 and a 52 week low of Rs. 2746.00 on 20-Jun-2023.
Last one week high and low of the scrip stood at Rs. 5777.40 and Rs. 4916.20 respectively. The current market cap of the company is Rs. 111795.48 crore.
The promoters holding in the company stood at 34.76%, while Institutions and Non-Institutions held 56.69% and 8.55% respectively.
Hero MotoCorp has received approval for purchase of additional 2.2% shares of Ather Energy, an associate company, from an existing shareholder. Currently, the Company is also an existing shareholder in Ather Energy and this transaction entails purchase of additional shares of Ather Energy from another existing shareholder. The cost of acquisition is up to Rs 124 crore. The said acquisition will be completed by July 31, 2024.
The Board of Directors of Hero MotoCorp at its meeting held on June 06, 2024 has approved the same.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.
