Hero MotoCorp share rises over 5% after firm logs record sales in festive season

Hero MotoCorp share rose over 5% today after the auto firm said it sold more than 14 lakh units of motorcycles and scooters in retail sales during the festive season. The share gained 5.11% to  Rs 3135 against previous close of Rs 2,983 on BSE.

The stock has gained after 3 days of consecutive fall. The share trades higher than 20 day, 100 day and 200 day moving averages but lower than 5 day and 50 day moving averages.

The share has gained 22.55% in one year and risen 23.78% since the beginning of this year.

Total 1.45 lakh shares changed hands amounting to turnover of Rs 44.73 crore.

Market cap of the firm rose to Rs 60,529 crore. 

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The 32-day festive season spread between the first day of Navratra and the concluding day after Bhai Duj recently saw sales of 98 per cent of the festive season volumes sold by the company in 2019 and 103 per cent compared to the same period in 2018.

Hero MotoCorp said it "sold more than 14 lakh units of motorcycles and scooters, in retail sales during the just concluded festive season, thereby continuing to gain market share and strengthen its leadership."

The festival season retails were driven by the strong performance of its popular models across segments, including the 100cc Splendor plus and HF Deluxe, 125cc motorcycles Glamour and Super Splendor and the Xtreme 160R and the XPulse range in the premium segment.

The Glamour model in its BS-VI avatar continues to gain volumes in new markets.

The festive season also witnessed strong customer preference for Destini and Pleasure scooters, resulting in high double-digit growth for the two models, it said.