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Commenting on the launch, Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, 'The launch of the VIDA V2, with variants across price segments, represents a significant milestone in our EV journey. We are dedicated to providing a comprehensive ecosystem to customers that ensures a delightful ownership experience with convenient charging solutions and easily accessible service points. We will continue to meet customers' needs and expectations through a range of exciting products and best-in-class service.'
The VIDA V2 is available in three variants ¡V „h V2 Lite at Rs 96,000 „h V2 Plus at Rs 115,000 „h V2 Pro at Rs 135,000 #Effective ex-showroom prices in Delhi less current subsidies
Hero MotoCorp Ltd fell for a fifth straight session today. The stock is quoting at Rs 4643.25, down 1.14% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.11% on the day, quoting at 24483.2. The Sensex is at 80947.19, up 0.13%.Hero MotoCorp Ltd has eased around 3.68% in last one month.Meanwhile, Nifty Auto index of which Hero MotoCorp Ltd is a constituent, has eased around 0.86% in last one month and is currently quoting at 23752.4, down 0.49% on the day. The volume in the stock stood at 2.92 lakh shares today, compared to the daily average of 6.65 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 4659.3, down 1.24% on the day. Hero MotoCorp Ltd jumped 21.97% in last one year as compared to a 17.4% rally in NIFTY and a 32.84% spurt in the Nifty Auto index.
The PE of the stock is 21.28 based on TTM earnings ending September 24.
The company is geared to strengthen its premium and scooter portfolio with the launch of new models across ICE and EV segments. It expects a positive trend in the coming months on account of favourable economic indicators and improving customer sentiments.
VIDA, Hero MotoCorp's EV brand, sustained its festive momentum with good retail sales and an increase in market share. Additionally, the ongoing VIDA network expansion, through Hero Premia and Hero 2.0 outlets, continues to yield positive results.
During the month, Hero MotoCorp continued to witness a positive trend in global business sales as well with a robust double-digit increase of 36%.
Hero MotoCorp, achieved its highest-ever retail sales during the recent 32-day festive period, starting from Navratri. With sales of over 15.98 lakh (1.6 million) units, the company registered an impressive 13% growth compared to the festive season of 2023. VIDA crossed a significant milestone by achieving 11,600 retail sales during the same period. The HarleyDavidson X440 achieved sales of over 2800 units, highlighting the brand's popularity.
In the month of November, the company showcased its premium range of motorcycles and electric vehicles at EICMA 2024. It unveiled the much-anticipated Xpulse 210, Xtreme 250R, Karizma XMR 250 motorcycles and the VIDA Z electric scooter. These products cater to diverse riding preferences, from adventure and off-road enthusiasts to urban and ecoconscious riders.
With a vision to transform mobility for Bharat and beyond, Hero MotoCorp launched the Hero For Startups (HFS) program. Hero For Startups (HFS) aims to identify and fund promising startups across the country that demonstrate the potential to transform the future of automotive industry.
At 12:30 IST, the barometer index, the S&P BSE Sensex was up 112.15 points or 0.14% to 79,914.94. The Nifty 50 index added 56.65 points or 0.23% to 24,187.75.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.61% and the S&P BSE Small-Cap index rallied 0.70%.
The market breadth was strong. On the BSE, 2,372 shares rose and 1,541 shares fell. A total of 195 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.74% to 14.89. The Nifty 26 December 2024 futures were trading at 24,300.85, at a premium of 113.1 points as compared with the spot at 24,187.75.
The Nifty option chain for the 26 December 2024 expiry showed a maximum Call OI of 46.5 lakh contracts at the 25,000 strike price. Maximum Put OI of 56 lakh contracts was seen at 24,000 strike price.
Economy:
The HSBC India Manufacturing PMI showed a substantial improvement in the health of the sector during November, despite downward movements in most of its subcomponents. Positive demand trends contributed to sharp expansions in sales and output, though growth was somewhat restricted by competitive conditions and price pressures. The latest results showed that a quicker upturn in cost burdens sparked the steepest rise in selling prices in over 11 years
The seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) fell from 57.5 in October to a joint 11-month low of 56.5 in November, signaling a softer improvement in the sector’s health. However, the pace of growth remained above its long-term average.
Pranjul Bhandari, Chief India Economist at HSBC, said: 'India recorded a 56.5 manufacturing PMI in November, down slightly from the prior month, but still firmly within expansionary territory. Strong broad-based international demand, evidenced by a four-month high in new export orders, fuelled the Indian manufacturing sector’s continued growth. At the same time, however, the rate of output expansion is decelerating due to intensifying price pressures. Input prices for a variety of intermediate goods — including chemicals, cotton, leather, and rubber — rose in November, while output prices soared to an eleven-year high as rising input, labour, and transportation costs were passed on to consumers.'
Meanwhile, India's foreign exchange (forex) reserves fell for an eighth consecutive week to hit a multi-month low of USD 656.582 billion in the week that ended on November 22, data from the Reserve Bank of India (RBI) showed.
Buzzing Index:
The Nifty Realty index rose 1.65% to 1,036.95. The index shed 0.51% in the past trading session.
Phoenix Mills (up 3.41%), Macrotech Developers (up 2.98%), Godrej Properties (up 2.48%), Oberoi Realty (up 1.38%), DLF (up 0.54%), Brigade Enterprises (up 0.46%), Prestige Estates Projects (up 0.23%), and Mahindra Lifespace Developers (up 0.11%) advanced.
On the other hand, Sobha (down 1.32%) and Raymond (down 0.53%) edged lower.
Stocks in Spotlight:
Bajaj Auto rose 0.65% after the two-wheeler major reported a 5% increase in total auto sales to 4,21,640 units in November 2024 as against 4,03,003 units in November 2023.
Maruti Suzuki India added 2.27% after the company’s total sales rose 10.39% to 181,531 units in November 2024 as against 164,439 units sold in November 2023.
Hero Motocorp shed 0.29% after its total sales declined 6.36% to 459,805 units in November 2024 as compared with 491,050 units in November 2023.
During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 439,777 units (down 7.67% YoY), while exports of the same were at 20,028 units (up 35.65% YoY).
The company’s electric vehicle brand, VIDA, crossed a significant milestone by achieving 11,600 retail sales during the same period.
Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts, and related services. The company is a leading two-wheeler manufacturer and has a dominant presence in the domestic market.
The company’s consolidated net profit jumped 26.29% to Rs 1,045.89 crore on a 15.4% increase in revenue from operations to Rs 10,210.79 crore in Q2 FY25 over Q2 FY24.
Shares of Hero MotoCorp shed 0.18% to Rs 4,750 on the BSE.