Life Insurance Corporation of India has offloaded 2% stake in Hero Motorcorp Ltd. between July 2024 and May 2026 through market sale. After the sale LIC's holding in the company fell to 5.1%.
Before the insurer offloaded stake it held 14.29 lakh shares representing 7.14% stake of the company. But after the 2% stale sale the holding fell to 5.14% as of May 27.
This comes as the Hero MotoCorp shares have fallen over 12% during this period. On the other hand, the shares have risen 12.5% in the last 12 months and fallen 15% year-to-date.
Hero MotoCorp Q4 Results
Hero MotoCorp Ltd. 's net profit saw a 30% uptick for the fourth quarter of the fiscal 2025-26, according to an exchange filing from the company. The firm also declared a bumper final dividend of Rs 75 per share.
The record date for determining the eligbility of shareholders for the final dividend's payout is July 24.
ALSO READ: Hero MotoCorp Q4 Results: Profit Up 30%, Bumper Dividend Declared, Check Record Date
The company's net profit increased to Rs 1,401 crore YoY (year-on-year) compared to a Rs 1,081 crore, in the year ago period. The firm's revenue rose 29% YoY to Rs 12,797 crore from Rs 9,939 crore in the previous fiscal, The company's Ebitda (earnings before interest, taxes, depreciation and amortisation) up 31% YoY to Rs 1,857 crore in comparison to Rs 1,416 crore in the preceding financial year. The Ebitda margin was 14.5%, compared to 14.2% in the previous year during the same period.
The firm also approved the re-appointment of Pawan Munjal as the whole-time director designated as the executive chairman for an additional term of five years with effect from Oct. 1, 2026. It also approved the reappointment of Suman Kant Munjal as director.
"Retiring by rotation and being eligible, has offered himself for re-appointment, subject to the approval of the members of the Company at the ensuing forty third annual general meeting," the filing said.
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