Hero MotoCorp Ltd Share Price – NSE  /  BSE

Automobile, Mid Cap

Hero MotoCorp today announced the new price of the Karizma XMR. The new price will be Rs 1,79,900 onwards (Ex-showroom, Delhi) w.e.f. 01 October 2023.

Hero Karizma XMR will be available at current introductory price of INR 1,72,900, till Midnight, 30 September 2023. The current booking window will close at Midnight on September 30th, and the date for new booking window will be announced later, which will be with the revised price.

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Hero MotoCorp Ltd is up for a third straight session in a row. The stock is quoting at Rs 3113.25, up 1.58% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.13% on the day, quoting at 20165.35. The Sensex is at 67703.17, down 0.2%. Hero MotoCorp Ltd has added around 6.2% in last one month.

Meanwhile, Nifty Bank index of which Hero MotoCorp Ltd is a constituent, has added around 7.5% in last one month and is currently quoting at 16425.8, up 0.96% on the day. The volume in the stock stood at 5.24 lakh shares today, compared to the daily average of 4.34 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 3107.35, up 1.03% on the day. Hero MotoCorp Ltd is up 15.12% in last one year as compared to a 14.43% gain in NIFTY and a 26.85% gain in the Nifty Bank index.

The PE of the stock is 18.95 based on TTM earnings ending June 23.

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Ather Energy is engaged in the business of designing, manufacturing, selling, servicing electric two wheelers. It reported a turnover of Rs 1,806.1 crore for the year ended March 2023.

The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature, said the company.

The auto maker added that the investment comprises Series E2 compulsory convertible preference shares. The subscription to the rights issue is on an arm's length basis.

Prior to this investment, Hero MotoCorp held a 33.1% stake (on a fully diluted basis) in Ather Energy. Post the investment, the company's shareholding in Ather will increase. The exact shareholding will be determined upon completion of capital raise round by Ather.

The period for completion of the acquisition is expected by 30 September 2023.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters. The company reported a net profit of Rs 825 crore in Q1 FY24, which is higher by 32% as compared with a PAT of Rs 625 crore in Q1 FY23. Revenue from operations for the quarter stood at Rs 8,767 crore, recording a growth of 4% on YoY basis.

Shares of Hero MotoCorp rose 0.21% to Rs 2,949.15 on the BSE.

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Total domestic sales rose 4.93% YoY to 4,72,947 units and total exports jumped 32.88% YoY to 15,770 units in August 2023 over August 2022.

The firm's motorcycle sales stood at 4,52,186 units (up 4.96% YoY) and scooters sales were at 36,531 units (up 14.84% YoY) during the period under review.

Hero MotoCorp said that there is a likelihood of uptick in customer demand heading into the festive season. The better monsoon across most parts of the country and the decent agricultural activity is also likely to contribute towards positive customer sentiments. August was an action-packed month for the company which saw new exciting additions to the company's product portfolio, it added.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters. The company reported a net profit of Rs 825 crore in Q1 FY24, which is higher by 32% as compared with a PAT of Rs 625 crore in Q1 FY23. Revenue from operations for the quarter stood at Rs 8,767 crore, recording a growth of 4% on YoY basis.

Shares of Hero MotoCorp rose 0.48% to end at Rs 2,927.05 on Friday, 1 September 2023.

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