Hero MotoCorp shares fell by 4.38% to ₹5,161.70 as of 9:20 AM on Thursday, with more than 2 lakh shares traded within the first five minutes of market opening. The stock opened at ₹5,363.05, which was also the day’s high so far, and touched a low of ₹5,151.00. The previous close for the stock was ₹5,398.20.
The drop in share price comes amid concerns over muted festive demand in the two-wheeler market, with no major cheer expected this season. Additionally, Bajaj Auto’s Q2 results released earlier added pressure to the sector, with the company missing market expectations in terms of revenue and profit. Bajaj Auto’s management commentary also pointed towards low demand during the festive season, further dampening investor sentiment across the auto sector.
While the exact reason behind the sharp fall in Hero MotoCorp’s stock price is yet to be fully confirmed, the broader concerns regarding festive demand and cautious outlook from sector peers seem to have contributed to the decline.
Disclaimer: This article is for informational purposes only and does not provide investment advice. Investors should consult with a financial advisor before making any investment decisions. Neither the publication nor the author holds any responsibility for investment outcomes based on the information provided.
