Hero MotoCorp hits record Q1 sales, hikes prices

Two-wheelers giant Hero MotoCorp gained over 2 per cent in the morning trade on Tuesday after company posted 13 per cent growth in its sales number in June. 

The company in its release said that it has sold 7,04,562 units of motorcycles and scooters in the month of June 2018 against 6,24,185 units sold in June 2017.  The company also said that it has created a new global benchmark by selling over 2.1 million units in the first quarter of FY19. 

The company notified that it has upwardly revised prices of its motorcycles and scooters in order to partially off-set the constantly rising input costs and currency depreciation. 

At 10:00 hours on Tuesday, Hero MotoCorp was trading at Rs. 3,470.40, up Rs. 55 or 1.61 per cent per share on NSE. The stock opened at Rs. 3,455.0 and touched an intraday high of Rs. 3,484.95 per share on NSE. The scrip has a 52-week high of Rs. 4,091.95 and a 52-week low of Rs. 3,361.05 per share on NSE.