Hero MotoCorp shines on resuming retail business

The shares of the automaker company, Hero MotoCorp Limited, went up by more than six per cent on Monday after the company announced that they have sold around 10,000 units of motorcycles and scooters on resuming retail business.

In an exchange filing released on Sunday, the company informed that they sold over 10,000 units, soon after commencing vehicle dispatches on May 7, 2020. Hero MotoCorp said that the retail operations had begun at 1,500 customer touch-points, including authorised dealerships and service centres. Nevertheless, these outlets contribute to around 30 per cent of the total domestic retail sales.  

Meanwhile, the company had halted its operations on March 22 as a precautionary measure in the wake of COVID-19. However, it resumed operations at three of its manufacturing plants on May 4 after following all the guidelines issued by Government of India. For the safety and well-being of its employees, the company has also issued a restart manual in ten regional languages.

At 11.52 am on Monday, the stock of Hero MotoCorp Ltd is trading at Rs 2,083.10, up by 6.15 per cent against its previous close of Rs 1,962.35. Its 52-week high is Rs 3,021.15 while, its 52-week low is Rs 1,475.00 on BSE.