Hero MotoCorp witnesses 4% rise despite drop in sales in May

Hero MotoCorp Limited’s shares jumped 4% to Rs 5,314 in early trade on June 3, despite the company recording a drop in sales for the month of May compared to the previous year.

In May, the well-known manufacturer of motorbikes and scooters had a 4% drop in sales, with 4,98,123 units sold overall. Compared to the same period last year, when the company sold 5,19,474 units, this result showed a decline.

In particular, the Splendor manufacturer witnessed an almost 6% fall in domestic sales. According to official data, the company sold 4,79,450 units domestically in May, compared to just over 5 lakh units sold in the same month last year.

Hero MotoCorp expects that the Maverick 440, Harley Davidson X440 and Karizma, three of its new premium class bikes, would perform well. Furthermore, the 125 cc segment, which includes the Xtreme 125R, Splendor and Glamour, is getting great feedback.

At around 9:20 a.m., shares were trading at Rs 5,270, up 3% from the last close on the NSE. Hero MotoCorp shares have climbed 24% since the start of the year.

 

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