bikes with engines over 500cc are on the anvil. To this end, Hero acquired a 49% stake in US-based superbike designer and racing outfit 'Erik Buell Racing' last year. It has also invested R450 crore in setting up its own R&D centre near Jaipur, while setting up a joint venture company with Fiat group auto component arm, Magneti Marelli. Additionally, it has tied up with automotive technology firms, Italy's Engines Engineering and Austria's AVL.
Hero MotoCorp shares closed up 2.85% on the BSE, at Rs 2,070.85, on Wednesday.