Hero MotoCorp moves higher on reporting surge in April sales

Hero MotoCorp is currently trading at Rs. 2212.10, up by 18.25 points or 0.83% from its previous closing of Rs. 2193.85 on the BSE. The scrip opened at Rs. 2205.00 and has touched a high and low of Rs. 2222.00 and Rs. 2205.00 respectively. So far 3715 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2320.00 on 07-Apr-2014 and a 52 week low of Rs. 1565.95 on 25-Jun-2013. Last one week high and low of the scrip stood at Rs. 2265.40 and Rs. 2141.00 respectively. The current market cap of the company is Rs. 44330.63 crore. The promoters holding in the company stood at 39.92%, while Institutions and Non-Institutions held 38.83% and 21.25% respectively. Hero MotoCorp, the country’s largest two-wheeler maker has reported a 14.41% increase in its total sales at 5,71,054 units in April 2014, as compared to 4,99,113 units sold in the same month last year. The sales of over 5.71 lakh units in April is the result of a series of initiatives that the company has undertaken in the past few months, including new launches, customer-friendly initiatives and brand building activities. Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.