Hero Motorcorp - Aug 2020 Sales Volume - Angel Broking

Mr. Amarjeet Maurya, AVP - Mid Caps, Angel Broking Ltd

"In the Month of August 20, Hero Motocorp reported auto sale number ~7% yoy growth to 5,84,456 units which came in-line with our estimates. The company has reported domestic growth ~9%.

However, on the export front, the company reported de-growth of ~19%. Hero MotoCorp's latest addition to its range of premium motorcycles - the Xtreme 160R - has received very positive feedback from the market and has led to an increase in the company's premium segment market share. The Company is also witnessing strong retail off-take and is currently operating in the pull market with rural and semi-urban centers driving demand. We are positive on stock with a buy rating."

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.2946 as compared to the previous close of Rs. 2995.25. The total number of shares traded during the day was 58033 in over 5656 trades.

The stock hit an intraday high of Rs. 3055 and intraday low of 2878. The net turnover during the day was Rs. 170208211.

Source : Equity Bulls

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