Shares of Hero MotoCorp today rose by over 3 per cent after the company reported 8.7 per cent increase in sales in May. The stock ended 2.82 per cent higher at Rs 3,840 on BSE. During the day, it gained 3 per cent to Rs 3,850 — its 52- week high.
At NSE, shares of the company jumped 3.11 per cent to close at Rs 3,849.75. The stock was the biggest gainer on both Sensex and Nifty.
The country’s largest two-wheeler maker Hero MotoCorp yesterday reported an 8.7 per cent increase in sales at 6,33,884 units in May.
The company had sold 5,83,117 units in May 2016, Hero MotoCorp said in a statement.
With the arrival of monsoon at some parts of the country and forecast of normal rains this year, the industry is expecting a boost in demand and consumption in the rural markets, it added.