hero motocorp share price: Hero MotoCorp’s market cap reaches Rs 1 lakh crore

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hero motocorp share price: Hero MotoCorp’s market cap reaches Rs 1 lakh crore

New Delhi: The country’s largest two-wheeler maker Hero MotoCorp’s market cap reached Rs 1 lakh crore for the first time on Tuesday as its stock crossed the Rs 5,000 mark.

Hero’s stock has surged 85.42% in the last 12 months and 21.8% so far this year.

Investors have been upbeat on the stock on the back of the company’s focus on premium and electric vehicle segments.

Hero MotoCorp has three key premium motorcycles – the Karizma XMR, Mavrick 440, and Harley-Davidson X440. These performance bikes have received positive feedback from the market and the company has raised production for these three products to 10,000 units per month.

Hero also plans to strengthen its scooter segment this year with the launch of Xoom 125 and Xoom 160.Hero MotoCorp CEO Niranjan Gupta recently said the company is looking at a holistic approach in the premium segment with a focus on products, new-age retail formats under Hero Premia and Hero 2.0 stores, and improving customer experience.In the EV segment, under the Vida brand, the company is planning to launch scooters in the affordable and mid-price segments this year. Vida operates in over 100 cities across the country with sales and charging infra.Hero MotoCorp recently said it will set up a subsidiary in Brazil soon and also launch operations in the Philippines. It had earlier said it will begin operations in Europe this year.

The company last week reported its highest-yet revenue and PAT in a financial year for FY24.

Hero MotoCorp’s market cap stood at Rs 100,803.27 crore at the close on the BSE on Tuesday, just behind TVS Motor Company, which had a market cap of Rs 101,390.72 crore.

Maruti Suzuki led the pack of automobile companies listed on the bourses with a market cap of Rs 4.03 lakh crore, followed by Tata Motors at Rs 3.21 lakh crore, Mahindra & Mahindra (M&M) at Rs 2.82 lakh crore, Bajaj Auto at Rs 2.53 lakh crore, and Eicher Motors at Rs 1.29 lakh crore.

Gupta is optimistic that favourable macroeconomic conditions, normal monsoons and increase in government spending post elections will aid growth in the two-wheeler industry in the coming months.

“Moving forward, we expect the macroeconomic factors to aid the industry’s growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters,” he said post the results announcement.

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