Hero Motocorp Shares: Last Tuesday, on the day of the results of the Lok Sabha elections, there was a stir in the stock market. Due to this environment, the shares of almost every sector saw a big decline. On Wednesday, the market took a U-turn and once again the Sensex-Nifty started running on the recovery track. Meanwhile, auto sector shares were also in strong demand.
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Shares of two-wheeler maker Hero Motocorp Ltd rose 8.7% to touch a record high of ₹5,775 on the third trading day of the week on Wednesday. The stock also has a 52-week high. Shares of Hero MotoCorp have gained 10% so far in June. During the month of May, the stock increased by 12.6%. The stock fell by 4% between February and April this year.
Let us tell you that the stock has given a positive return of 38% in the year 2024. Let us tell you that Hero Motocorp, Mahindra & Mahindra (58% return) and Bajaj Auto (40% return) are the third best performing stocks on the Nifty 50 index.
What the experts say
According to brokerage firm Bernstein, it will be important to see how the new government will deal with the rural crisis. Growth in rural consumption or revival in the rural economy is generally beneficial for two-wheeler manufacturers such as Hero and Bajaj Auto. In such a situation, their entry level bike sales are likely to increase.
Company Quarterly Results
Hero MotoCorp’s profit rose 16.7 percent to Rs 943.46 crore in the fourth quarter of last fiscal year 2023-24. The company’s profit in the fourth quarter (January-March) of the financial year 2022-23 was Rs 810.8 crore. Its operating income for the quarter was Rs. 9,616.68 crore which was Rs. 8,434.28 crores.
Bikes worth 13.92 lakhs were sold
13.92 lakh motorcycles, scooters were sold in the fourth quarter of FY 2023-24. While in the fourth quarter of the financial year 2022-23, this figure was 12.70 lakh units. In the fourth quarter, the company’s total expenses rose to Rs. 8,427.36 crore, compared to Rs. 7,508.94 crores.