Hero MotoCorp rises 3% on new launches on 40th anniversary

Shares of Hero Motocorp Limited traded 3.15 percent higher to Rs 4,540 in afternoon trade on January 23 after the company announced the launch of two new bikes, the Xtreme 125R and a special collector’s edition named ‘Hero Forever’, CNBC TV-18 reported.

The new Xtreme 125R is available at Hero MotoCorp dealerships in two variants, priced at Rs. 95,000 for IBS and Rs. 99,500 for ABS.

The company also unveiled the Maverick 440 at its Centre of Innovation and Technology (CIT) in Jaipur. The company has said that the new bike will be available in its flagship showrooms.

At 1:40 pm, the stock was trading at Rs 4,530, up 2.9 percent from the previous close on the NSE. The scrip has given a nearly 64 percent return in the last year, beating the Nifty comfortably.

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Not just the new launches, but the sentiment for the stock also comes on the back of a new facility for assembling products in Nepal in partnership with CG Motors.

The two-wheeler major is set to establish a manufacturing facility in Nawalpur district with an annual capacity of 75,000 units. Hero aims to commence operations at the facility in March 2024. Hero MotoCorp entered the Nepalese market in 2014 and has since become a prominent player in the country.

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