"The domestic two-wheeler industry has been passing through a time of volatility, with market demand still continuing to be sluggish. Notwithstanding these challenges, Hero MotoCorp - and indeed the entire industry - is gearing up for the migration to the new emission norms ahead of the mandatory deadline of April 1, 2020.
At a time such as this, it is prudent for us to prioritise our resources towards meeting business objectives for the benefit of our customers and other stakeholders.
In the midst of these significant transitions, the Auto Expo - The Motor Show - is going to be held in Greater Noida in early February next year. As the market leader a nd one of the most vocal torchbearers of the industry, Hero MotoCorp has always been a flagship participant at the Auto Expo in the previous years. However, participation in the Expo would require months of preparation and allocation of massive resources - both in terms of financial spends and manpower.
In keeping with the prioritised objectives, the Company has decided after much deliberation, to skip the upcoming Auto Expo."
Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.2596.8 as compared to the previous close of Rs. 2601.95. The total number of shares traded during the day was 19726 in over 1551 trades.
The stock hit an intraday high of Rs. 2634 and intraday low of 2568.9. The net turnover during the day was Rs. 51264369.