The shares of the world’s largest two-wheeler manufacturer rose 6 percent to an all-time high price of Rs 4,388.35 apiece, in afternoon trade on Thursday after the company set to enter the 440 cc bike segment.
On Thursday, At 3.25 p.m, Hero MotoCorp Ltd shares were trading at Rs 4,330.90 per share, up 4.53 percent from the previous close price on the National Stock Exchange, and the company has a market capitalization of Rs 86,773 crores.
The company planned to enter the 440 cc segment by launching a range of products on January 23, 2024, by the name “Maverick”. And company could also unveil a 125cc bike as part of the product lineup. It would also showcase prototypes as well as production-ready models in Jaipur and plans to launch them in FY24 and FY25.CNBC TV-18 reported.
The company’s revenues have increased by 4 percent year on year from Rs 9,158 crore in Q2FY23 to Rs 9,533 crore in Q2FY24, while net profit has increased by 47 percent from Rs 682 crore to Rs 1,007 crore.
The Company is engaged in the manufacturing and selling of motorized two-wheelers, spare parts, and related services. The Company has over 9.50 million annual production capacity across 8 manufacturing facilities i.e., 6 in India and one each in Colombia and Bangladesh.
The company has some strong brands under its names like Splendor, Passion, and Glamour in the bike segment and Pleasure, Maestro in the scooter segment, and others, etc. The company has a presence in more than 40 countries.
Hero MotoCorp shares have gained 40 percent in the last six months and 60 percent in a year.
As per data from the Society of Indian Automobile Manufacturers, Hero Moto Corp reported a market share of 28.95 percent in the domestic two-wheeler segment is 28.95% by the end of July.
Hero MotoCorp sold more than 54.99 lakh units during the January-December period. This translates into a growth of 5% over the corresponding period (January-December 2022) when it had sold 52.47 lakh units. In December month alone the company sold 3,93,952 units.
In December 2023, the company announced its partnership with Ather Energy for an interoperable fast-charging network across India. Through this collaboration, the company to get the benefit of a combined network of over 100 cities with 1900 fast-charging points.
Written by Omkar Chitnis
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