Within the final one 12 months, the inventory has gained nearly 62 %
Shares of Hero Motocorp Restricted surged over 5 % to Rs 4,367 in afternoon commerce on January 11 after CNBC TV-18 reported that the two-wheeler main is about to enter the 440 cc phase by launching a variety of merchandise on January 23.
“Maverick will likely be Hero’s entry into the 440cc phase for India and world markets and will likely be rolled out commercially within the coming months,” CNBC TV-18 stated citing sources.
At 1 pm, the counter was buying and selling at Rs 4,360, up 5.4 % from the earlier shut on the NSE. The inventory, which has risen nearly 62 % up to now 12 months, was the corporate was the Nifty gainer.
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The corporate may additionally unveil a 125cc bike as a part of the product lineup, sources stated. It could additionally showcase prototypes in addition to production-ready fashions in Jaipur and launched them in FY24 and FY25.
Additionally learn: Hero MotoCorp rides excessive on investor confidence regardless of downgrades by analysts
In December, the world’s largest two-wheeler firm offered 3,93,952 models in opposition to 3,94,179 within the year-ago interval.
Bike gross sales stood at 3,54,658 models in opposition to 3,56,749 models within the corresponding interval a 12 months in the past. Scooter gross sales in December had been, nonetheless, greater at 39,294 as in opposition to 37,430 models offered a 12 months again.
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