MUMBAI, Nov 19: Shares of Hero MotoCorp surged over 4 per cent in morning trade on the bourses after the two-wheeler major clocked over 10 lakh units in retail sales during the festive season this year.
Shares of the company opened on a bullish note at Rs 2,609.90 on BSE and surged as much as 4.32 per cent to touch an high of Rs 2,683.80.
On the NSE, the stock saw similar movement and jumped 4.23 per cent to touch an high of Rs 2,683.80.
The company after market hours yesterday had said “thanks to the phenomenal customer response to our range of products, including all the new launches, the one million unit landmark was achieved during the 35-day festive period starting with the Navratras”.
Meanwhile, the benchmark BSE index was trading with gains of 289 points at 25,772.
This is a robust 11 per cent growth over corresponding period last year, it added.
“Our two new scooters — Maestro Edge and Duet — have been blockbusters and there has also been phenomenal demand for the new Splendor PRO,” the company said.
These, along with the robust sales of Passion PRO and Glamour bikes, and the continuing popularity of Pleasure and Maestro scooters have resulted in this double digit growth, it added. (PTI)
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