Hero MotoCorp share price jumped as much as 4.35 per cent on Thursday after the world’s largest two-wheeler manufacturer reported over 10 lakh units in retail sale during the festive season this year.
The 10 lakh unit landmark was achieved during the 35-day festive period starting with the Navratri. This is an increase of 11 per cent in retail sales over the corresponding period last year.
The share price of Hero MotoCorp closed 0.76 per cent up at Rs 2591.35 on Thursday.
The promoters holding in the company stood at 34.64 per cent, while institutions and non-institutions held 52 per cent and 13.36 per cent, respectively.
The company’s two new scooters, Maestro Edge and Duet, have been blockbusters while there has also been a phenomenal demand for the new Splendor PRO. These, along with the sales of Passion PRO and Glamour bikes, and the continuing popularity of Pleasure and Maestro scooters have resulted in this double digit growth.
Hero MotoCorp is the world’s single largest two-wheeler motorcycle company. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.