From Hindustan Times.: 2024-05-14 04:55:17

1. Hero MotoCorp’s stock crosses ₹5,000 mark, hitting a new high of ₹5,045 per share. The stock has seen a 93% increase in the past year and a remarkable 134% increase from its low in March 2022. The company has joined the Open Network for Digital Commerce to enhance reach and convenience for customers.

2. The stock surge for Hero MotoCorp has accelerated, climbing from ₹3,000 to ₹5,000 in just five months. The company’s partnership with ONDC will offer two-wheeler parts and accessories through buyer apps like Paytm. This integration aims to improve reach, create a fair environment for channel partners, and enable faster hyperlocal deliveries.

3. Analysts expect the positive momentum for Hero MotoCorp to continue into FY25 after a strong performance for the quarter and fiscal year ending in March. Two-wheelers showed improvement in FY24, reflecting overall economic growth and increased export volumes. The company’s stock saw an upward trend following these results.

4. Sales of two-wheelers in India surged in April 2024, with a 30.8% increase compared to the previous year. Hero MotoCorp recorded a 34.7% increase in units sold in April, reaching 5.33 lakh units. The Xtreme 125R model is gaining traction, leading to increased supplies to meet demand and positive feedback from industry surveys.

5. Hero MotoCorp plans to introduce new products in the 200-400cc category to strengthen its presence in the premium segment. Deliveries of the flagship product, the Mavrick 440, have commenced nationwide. The company’s stock has been upgraded by Nomura from ‘neutral’ to ‘buy’, with a revised target price of ₹5,448.00.



Read more at Hindustan Times.: Hero MotoCorp stock jumps over 3% to hit new record high, crosses ₹5000 mark – here’s why