HeroMoto Corp informed as under with reference to Auto Expo 2020 --

The domestic two-wheeler industry has been passing through a time of volatility, with market demand still continuing to be sluggish. Notwithstanding these challenges, Hero MotoCorp - and indeed the entire industry - is gearing up for the migration to the new emission norms ahead of the mandatory deadline of April 1, 2020.

At a time such as this, it is prudent for us to prioritise our resources towards meeting business objectives for the benefit of our customers and other stakeholders.

In the midst of these significant transitions, the Auto Expo - The Motor Show - is going to be held in Greater Naida in early February next year. As the market leader and one of the most vocal torchbearers of the industry, Hero MotoCorp has always been a flagship participant at the Auto Expo in the previous years. However, participation in the Expo would require months of preparation and allocation of massive resources - both in terms of financial spends and manpower. '

In keeping with the prioritised objectives, the Company has decided after much deliberation, to skip the upcoming Auto Expo.

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Hero MotoCorp sold 612,204 units ofmotorcycles and scooters in the month of September 2019.

With this, the Company registered a growth of 12.6% over the previous month(August 2019) when it had sold 543,406 units of two-wheelers.

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Hero MotoCorp will hold a meeting of the Board of Directors of the Company on 23 October 2019.

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Hero MotoCorp Ltd rose for a fifth straight session today. The stock is quoting at Rs 2722, up 1.13% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.27% on the day, quoting at 11033.25. The Sensex is at 37320.22, up 0.47%. Hero MotoCorp Ltd has added around 6.05% in last one month.

Meanwhile, Nifty Auto index of which Hero MotoCorp Ltd is a constituent, has added around 7.37% in last one month and is currently quoting at 7165.35, up 2.73% on the day. The volume in the stock stood at 4.86 lakh shares today, compared to the daily average of 11.98 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 2729, up 1.18% on the day. Hero MotoCorp Ltd is down 13.96% in last one year as compared to a 2.96% fall in NIFTY and a 31.16% fall in the Nifty Auto index.

The PE of the stock is 16.58 based on TTM earnings ending June 19.

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