Hero MotoCorp shares fell as much as 4.8 per cent after the company reported lower-than-expected Oct-Dec earnings on Thursday.
At 10.16 am, the stock was trading at Rs 1,742.75, down 4.18 per cent, on the National Stock Exchange, while the broader Nifty was up 0.57 per cent.
Hero MotoCorp, the world's largest two-wheeled vehicle manufacturer, missed estimates for the fourth straight quarter on Thursday as net profit fell 20.4 per cent on slowing motorcycle demand in Asia's third-largest economy.
Hero said profit for the October-December period was Rs 488 crore, below the average market expectation of Rs. 569 crore, according to Thomson Reuters I/B/E/S.
Net sales rose 2.8 per cent to Rs. 6,151 crore, above the average analyst estimate of Rs. 6,054 crore.
Copyright: Thomson Reuters 2013
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