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Hero MotoCorp share rises over 3% after February sales cross 5 lakh mark

Hero MotoCorp stock touched an intraday high of Rs 3,464.2 rising 3.41% against previous close of Rs 3,350 on BSE

twitter-logoBusinessToday.In | March 2, 2021 | Updated 12:18 IST
Hero MotoCorp share rises over 3% after February sales cross 5 lakh mark
Hero MotoCorp share opened marginally higher at Rs 3,352. Market cap of the firm rose to Rs 69,303 crore.

Hero MotoCorp  share rose over 3% in trade today after the world's largest two-wheeler manufacturer clocked a sales growth of 1.45% in February 2021 compared to the year-ago period. The stock has risen 6.92% in the last 2 days.

The auto stock touched an intraday high of Rs 3,464.2 rising 3.41% against previous close of Rs 3,350 on BSE. The share opened marginally higher at Rs 3,352. Market cap of the firm rose to Rs 69,303 crore.

Hero MotoCorp share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The large cap share has gained 75% in one year and risen 11% since the beginning of this year.

The firm sold 5,05,467 units of motorcycles and scooters in February 2021 against 4,98,242 units of two-wheelers during the corresponding month of the previous year.  

"The growth in sales - despite the ongoing challenges on account of supply chain issues that the industry is facing - has been possible due to the state of preparedness and quick countermeasures taken by the company," stated Hero MotoCorp in a release.  

Hero MotoCorp February sales rise 1.45% to 5,05,467 units

The company sold 4,63,723 motorcycles and 41,744 scooters in February 2021 compared to 4,79,310 motorcycles and 18,932 scooters in February 2020.

The third quarter of current fiscal has proved to be milestone for the firm in terms of revenue. Hero MotoCorp clocked Rs 9,776 crore in terms of revenue in the third quarter (October 2020 to December 2020) of FY21. This was the highest-ever revenue registered for any single quarter in the history of Hero MotoCorp.

The company had generated Rs 6,997 crore in revenue in Q3 of FY20. The company also declared an interim dividend of Rs. 65 per share. It also announced a special interim dividend of Rs 100 Crore at Rs 5 per equity share.

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