Hero MotoCorp shares down marginally on weak June sales number; hikes motorcycles prices

The share touched a 52-week high of Rs 3,025.50 and a 52-week low of Rs 2,246.75 on 08 June, 2023 and 28 March, 2023, respectively.

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Hero MotoCorp share price fell in early trade on July 3 as the company has decided to make an upward revision in the ex-showroom prices of its motorcycles and scooters.

“Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective from July 3, 2023,” it said in a statement. The price increase will be around 1.5 percent and the exact quantum of increase will vary by specific models and markets.

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For the month of June 2023, the company’s sales were down 10 percent at 436,993 units against 484,867 units, in June 2022. Its domestic sales were down 8.7 percent at 422,757 units against 463,210 units; and exports were down 34.3 percent at 14,236 units versus 21,657 units, year-on-year (YoY).

At 09:33 hours Hero MotoCorp was quoting at Rs 2,905, down Rs 4.40, or 0.15 percent on the BSE. The share touched a 52-week high of Rs 3,025.50 and a 52-week low of Rs 2,246.75 on 08 June, 2023 and 28 March, 2023, respectively.

At present, it is trading 3.98 percent below its 52-week high and 29.3 percent above its 52-week low.