Shares of Hero MotoCorp Ltd., rose over 2% on Wednesday after the company's total sales in June rose 9.55% to 5.54 lakh units. This compares to 5.03 lakh units sold in the same month last year, the company reported on Tuesday.
The automaker sold 5.25 lakh units domestically in June, 7% higher than the 4.9 lakh units sold in the same period in 2024, the company said in a regulatory filing. Exports registered a 140% increase at 28,827 units last month, from 12,032 units in June 2024.
The company sold 5.13 lakh motorcycles in June, 8% higher than the 4.73 lakh units sold in the same month last year. The sales of scooters rose 36.7% to 41,305 units in comparison to 30,220 units sold in the same month in the previous year.
Share Price
Shares of Hero MotoCorp rose as much as 2.33% to Rs 4,324.60 apiece. They pared losses to trade 0.88% higher at Rs 4,263 apiece, as of 9:36 a.m. This compares to a 0.06% advance in the NSE Nifty 50.
The stock has fallen 23.46% in the last 12 months and risen 2.40% year-to-date. Total traded volume so far in the day stood at 0.15 times its 30-day average. The relative strength index was at 37.74.
Out of 43 analysts tracking the company, 24 maintain a 'buy' rating, 12 recommend a 'hold' and seven suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 5.5%.
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