Hero Moto gains after posting highest-ever monthly sales in Oct
The world’s largest two-wheeler manufacturer, sold 8,06,848 units of motorcycles and scooters in October 2020, up 35 per cent, against 5,99,248 units sold a year back.
By ETMarkets.com |
BCCL
NEW DELHI: Shares of Hero MotoCorp advanced over 1 per cent in Monday’s trade after the company on Sunday posted its highest ever monthly sales.
The world’s largest two-wheeler manufacturer, sold 8,06,848 units of motorcycles and scooters in October 2020, up 35 per cent, against 5,99,248 units sold a year back.
The scrip traded 1.17 per cent higher at Rs 2,832, while the benchmark BSE Sensex was down 0.14 per cent at 39,559 at around the same time. The BSE Auto index was down 0.30 per cent at 17,463.
In a regulatory filing, Hero MotoCorp said, “A positive turnaround in customer sentiments – particularly for motorcycles across markets, continued government policy support and a credible resumption of the supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period.”
With the higher dispatches during the month, the company’s customer touch points across the country now have adequate inventories in line with market demand in the ongoing festival period, it added.
Other auto majors including Ashok Leyland, MRF and TVS Motor were also up over 0.50 per cent. On the other hand, Bajaj Auto and Maruti Suzuki were down 1.51 per cent and 0.61 per cent, respectively.
The world’s largest two-wheeler manufacturer, sold 8,06,848 units of motorcycles and scooters in October 2020, up 35 per cent, against 5,99,248 units sold a year back.
The scrip traded 1.17 per cent higher at Rs 2,832, while the benchmark BSE Sensex was down 0.14 per cent at 39,559 at around the same time. The BSE Auto index was down 0.30 per cent at 17,463.
In a regulatory filing, Hero MotoCorp said, “A positive turnaround in customer sentiments – particularly for motorcycles across markets, continued government policy support and a credible resumption of the supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period.”
With the higher dispatches during the month, the company’s customer touch points across the country now have adequate inventories in line with market demand in the ongoing festival period, it added.
Other auto majors including Ashok Leyland, MRF and TVS Motor were also up over 0.50 per cent. On the other hand, Bajaj Auto and Maruti Suzuki were down 1.51 per cent and 0.61 per cent, respectively.
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