Hero Moto hits a new high

Hero Motocorp hit a new 52-week high today at Rs.2850 and continues to remain firmly around the same levels, up some 7%.

The company yesterday announced its monthly sales numbers for February and the market was enthused with the numbers, holding the promise of a much better Q4.

The company said that it had sold 5,50,992 units of two-wheeler in Feb v/s 4,84,769 units, showing a growth of 14% (YoY). In the Press Release issued by the company, it said, "These numbers have been possible in spite of the production at Hero’s manufacturing facilities at Gurgaon and Dharuhera in Haryana and at Neemrana in Rajasthan being impacted for a few days, due to the local agitations in the region during the month.”

The good news is that in Feb, the company’s R&D developed its new scooter, Duet, which was rolled out in the East Zone. The other scooter indigenously developed was Maestro Edge and both together are expected to help the company consolidate its market share.