Hero MotoCorp Unveils New Brand ‘Vida’ For Electric Mobility; Stocks Slips To 52-Week Low

Vida’s introduction comes amid a legal dispute between Vijay Kumar Munjal and Pawan Kumar Munjal over the use of the brand ‘Hero’ for EV business by Hero MotoCorp after the Munjal cousins decided to go their separate ways following a family settlement in 2010.

Vijay Munjal, along with his son Naveen Munjal, who owns Hero Electric Vehicles Pvt., had approached the Delhi High Court in October seeking arbitration, claiming ownership over the use of the ‘Hero’ brand for the EV business.

The Delhi High Court has referred the dispute for arbitration.

• Shares of Hero MotoCorp fell more than 4.8% to a 52-week low of Rs 2,301.1 apiece. The stock closed with 4.39% losses and logged the worst day in over a week

• Trading volume of the stock was nearly twice the 30-day average at this time of the day.

• Goldman Sachs initiated coverage of the stock with a ‘sell’ and a price target of Rs 2,080, an implied downside of 11.9%.

• Of the 51 analysts tracking the company, 33 maintain a ‘buy’, 13 suggest a ‘hold’ and five recommend a ‘sell’, according to Bloomberg data. The 12-month consensus price target implies an upside of 32.6%.