Hero MotoCorp shares skid 3% on flat sales in December

Shares of Hero MotoCorp Limited traded 3 percent lower at Rs 3,974 early on January 3 after the company announced flat sales in December.

The world’s largest two-wheeler company sold 3,93,952 units as against 3,94,179 units, down a marginal 0.05 percent from the same period last year.

At 9:20am, the counter was trading at Rs 4,022, down 1.7 percent from the previous close on the NSE. In the last one year, the stock has gained over 50 percent on the bourses.

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Motorcycle sales stood at 3,54,658 units last month as against 3,56,749 units in the corresponding period a year ago. Scooter sales in December 2023 were, however, higher at 39,294 units as against 37,430 units a year back, the company said.

As for Hero’s export business, the company clocked a 25 percent increase, selling over 16,000 units as against 12,814 units sold in December 2022.

From January to December 2023, the company has sold more than 54.99 lakh units. This translates into a growth of 5 percent over the corresponding
period, when it had sold 52.47 lakh units.

“With increased government spending and improved liquidity, encouraging farm activity and the upcoming marriage season, the company expects a positive momentum to build up from the fourth quarter onwards,” it said.

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