Hero MotoCorp, India’s leading two-wheeler manufacturer, experienced a significant drop in its market capitalization as shares fell by 4.96% today. The stock, which opened at ₹5,127.50, traded at ₹4,771.25 by 10:45 am, marking a decline from its previous close of ₹5,020.50. This drop has led to an estimated market cap loss of approximately ₹4,736.83 crore, bringing the company’s total market cap to around ₹95,450.51 crore.
Despite the decline in share value, Hero MotoCorp reported positive sales figures for October 2024. The company’s total sales reached 6.79 lakh units, an 18% increase year-on-year (YoY). This growth was primarily driven by high demand for Hero’s 100cc and 125cc motorcycle models, which saw a boost during the festive season, especially in key urban and rural markets. Motorcycle sales for the month recorded a substantial YoY increase of 20.11%, reaching 6,35,787 units and accounting for 93.62% of the company’s total sales.
However, scooter sales told a different story, with a 5% YoY decline to 43,304 units. Despite the yearly dip, there was a notable month-on-month (MoM) improvement of 9.57% compared to September’s 39,521 units, indicating some recovery in the segment.
Hero MotoCorp’s mixed performance in October—strong growth in motorcycles but a decline in scooters—has left investors with a cautious outlook, as reflected in the stock’s performance today.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
