Hero MotoCorp shares gain as sales surge 5.6% in August

The share touched a 52-week high of Rs 3,242.85 and a 52-week low of Rs 2,246.75 on 01 August, 2023 and 28 March, 2023, respectively.

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Shares of Hero MotoCorp were up nearly 1 percent at Rs 2,949.70 in early trade on September 4 after the company improved sales numbers for August 2023.

The company’s total sells increased 5.6 percent at 488,717 units in August as against 462,608 units a year back. The company sold 452,186 units of motorcycles and 36,531 units of scooters last month.

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Domestic sales of the company increased by 5 percent to 472,947 units and exports surged 32.8 percent to 15,770 units.

There is a likelihood of uptick in customer demand heading into the festive season. Better monsoon across most parts of the country and decent agricultural activity also likely to contribute towards positive customer sentiment, the company said.

In August, company unveiled Karizma XMR at an introductory price of Rs 1,72,900.

Also, the company introduced the new Glamour with revolutionary i3S technology (Idle Stop-Start System), new fully digital console, real time mileage indicator and mobile charging port.

The share touched a 52-week high of Rs 3,242.85 and a 52-week low of Rs 2,246.75 on August 1 and March 28. The stock is trading 9.04 percent below its 52-week high and 31.29 percent above its 52-week low.