Hero MotoCorp shares in focus after 26% jump in January dispatches

Hero MotoCorp shares are likely to remain in focus during the Monday, February 2 trading session after the country’s largest two-wheeler manufacturer reported a strong 26% year-on-year growth in dispatches for January 2026.

The company dispatched 5,57,871 units to dealers in January 2026, compared with 4,42,873 units in the same month last year, highlighting sustained demand across product categories. With this performance, Hero MotoCorp has retained its position as the world’s largest two-wheeler manufacturer for the 25th consecutive year, underscoring its leadership through FY26.

Hero MotoCorp also recorded 4,91,986 VAHAN registrations during the month, indicating healthy retail traction across markets. (VAHAN data excludes Telangana and is as of February 1, 2026.)

Hero MotoCorp's product portfolio driving growth

Growth during January was primarily driven by strong performance in the scooter segment, supported by rising demand for newer models such as Xoom and Destini. The motorcycle portfolio also showed solid traction, led by models like Xtreme and Glamour X, reflecting improving consumer preference for premium and performance-oriented offerings.

Hero MotoCorp’s electric mobility arm, VIDA, continued to build momentum in the emerging EV space. VIDA recorded 13,000 VAHAN registrations in January 2026, marking around 21% month-on-month growth compared to 10,701 units in December. The growth was driven by steady demand for the VIDA VX2, backed by an expanding retail footprint and a strong order pipeline in key markets.

The company’s global business also maintained a strong growth trajectory, reporting dispatches of 37,663 units, up nearly 24% year-on-year from 30,495 units in January last year. Demand for Hero’s premium offerings supported growth across international markets.

Hero MotoCorp stock performance and technical view

During Sunday’s Budget Special trading session, shares of Hero MotoCorp ended marginally lower, slipping 0.57% to close at Rs 5,502.50 on the NSE.

From a valuation standpoint, the stock is currently priced at a price-to-earnings (P/E) ratio of 20.84 and a price-to-book (P/B) ratio of 5.67, reflecting its established market position.

On the technical front, the 14-day RSI stands at 40.7, pointing to neutral-to-weak momentum, with levels below 30 indicating oversold conditions and above 70 signalling overbought territory. The stock is trading below five of its eight short-term moving averages, suggesting some near-term pressure. However, it continues to remain above its 150-day and 200-day moving averages, indicating that the long-term trend remains intact despite short-term weakness.

Strong dispatch growth, improving EV traction, and sustained global demand could keep Hero MotoCorp shares in focus.

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