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The firm's motorcycle sales stood at 441,276 units (up 25.07% YoY) and scooters sales were at 49,774 units (up 30.65% YoY) during the period under review.
The company said that it expects demand to be on a healthy trajectory in the coming months on account of favorable economic indicators, including the ongoing marriage season and positive consumer sentiments.
The firm also recorded its highest-ever festive sales, clocking more than 14 lakh (1.4 million) units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj – this year.
In the month of November 2023, the company announced a slew of strategic initiatives including an extensive growth plans to expand its footprint in electric mobility, enter new internal combustion engine (ICE) vehicles categories and foray into Europe.
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters.
The two-wheeler major reported a net profit of Rs 1,053.81 crore in Q2 FY24, registering a growth of 47.17% as compared with Rs 716.07 crore in Q2 FY23. Revenue from operations increased 4.08% YoY to Rs 9,445.42 crore in Q2 FY24.
The scrip hit 52 week high at Rs 3,889.05 in intraday today.
The company expects demand to be on a healthy trajectory in the coming months on account of favorable economic indicators, including the ongoing marriage season and positive consumer sentiments.
In the month of November 2023, the company announced a slew of strategic initiatives including an extensive growth plans to expand its footprint in electric mobility, enter new ICE vehicles categories and foray into Europe.
The company also recorded its highest-ever festive sales, clocking more than 14 lakh (1.4 million) units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj – this year.
The scrip declined 1.58% to settle at Rs 3,758.55 on Friday, 1 December 2023.
Hero MotoCorp Ltd is up for a third straight session in a row. The stock is quoting at Rs 3821.4, up 1.99% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.14% on the day, quoting at 20068.1. The Sensex is at 66756.32, down 0.22%. Hero MotoCorp Ltd has added around 23.74% in last one month.
Meanwhile, Nifty Auto index of which Hero MotoCorp Ltd is a constituent, has added around 9.94% in last one month and is currently quoting at 17482.45, up 0.09% on the day. The volume in the stock stood at 18.11 lakh shares today, compared to the daily average of 7.15 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 3813.75, up 1.87% on the day. Hero MotoCorp Ltd is up 33.07% in last one year as compared to a 6.67% gain in NIFTY and a 32.65% gain in the Nifty Auto index.
The PE of the stock is 20.98 based on TTM earnings ending September 23.