Hero MotoCorp soars: 5.03 Lakh units sold in June 2024; Achieves double-digit growth!
Hero MotoCorp plans to expand its EV range with new models in the mid and mass segments this fiscal year.
Today, the shares of Hero MotoCorp Limited witnessed marginal gains by 0.05 per cent. The company's current market capitalization standing at Rs 1,12,012.40 crore.
Stock performance:
On Tuesday, the stock opened at Rs 5698.50, with the previous closing being Rs 5602.25. The 52-week high and low are Rs 5,894.30 and Rs 2,863.90, respectively as per BSE.
Recent development:
The company has sold 503,448 units in June 2024. This marks a 15 per cent increase compared to June 2023. In the domestic market, the company sold 491,416 units, a 16 per cent rise from the 422,757 units sold in June 2023. For the quarter ending in June 2024, total sales grew by 13.5 per cent compared to the previous year.
Hero MotoCorp is seeing strong demand for its 125cc, premium, and electric vehicle (EV) segments, especially models like the Xtreme 125 and VIDA V1. The company is also expanding its Hero Premia and Hero 2.0 stores to improve customer experience.
June saw the highest-ever dispatches for the VIDA V1. Hero MotoCorp plans to expand its EV range with new models in the mid and mass segments this fiscal year. In the global market, the company’s sales grew by an impressive 44 per cent in Q1 FY'25, driven by growth in Nepal, Colombia, Mexico, and Turkey.
Furthermore, they have achieved Zero-Waste-to-Landfill (ZML) certification, reaching this sustainability milestone ahead of the 2025 target and reducing overall waste by 40 per cent.
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About the Company:
Hero MotoCorp, previously known as “Hero Honda,” is one of India’s first motorcycle manufacturers. The company began in 1984 as a technological collaboration with Honda, Japan. Before this partnership, Hero sold bicycles under the brand name Hero Cycles. In 2011, Honda sold its 26 per cent stake in the company to the Munjal family, the promoters, ending the joint venture. Following the termination of the JV, the company was renamed Hero MotoCorp.
Furthermore, the stock has experienced significant buying activity, yielding returns of more than 92 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.