Hero Motocorp Ltd.’s stock increased by as much as 3% on Tuesday, July 23, following the announcement by Finance Minister Nirmala Sitharaman that ₹2.66 lakh crores will be allocated for rural development, including spending on infrastructure. The rural economy will benefit from this and M&M and Hero MotoCorp shares should rise as a result.

FM Sitharaman announced ₹2.66 lakh crore in rural allocations during her seventh Union Budget presentation, a 12% increase over FY24 budget predictions.

According to Sitharaman, the allocation would also be used to improve rural infrastructure.

As of 11:40 pm, Hero MotoCorp shares were trading 1.27% higher at ₹5,532.75.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

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.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.