Hero MotoCorp rides higher on 14.4% sales growth in April
NEW DELHI: Hero MotoCorp LtdBSE 0.57 % rallied as much as 1.28 per cent in morning trade on Friday, after India’s largest two-wheeled vehicle maker, said that its April sales rose 1.4 percent from a year earlier to 571,054.
At 09:45 a.m.; Hero MotoCorpBSE 0.57 % was trading 1.05 per cent higher at Rs 2216.85. It hit a low of Rs 2205 and a high of Rs 2222 in trade today.
Since its 2011 split from Japan’s Honda Motor Co, Hero has been investing heavily in technology to develop new bikes and increasing its push into overseas markets, Reuters reported.
The better-than-expected performance came on the back of continued traction in rural markets.
According to the Management, initiatives taken by the company in the past few months, including new launches, customer-friendly initiatives and brand building activities aided the performance during the month.