Hero Moto hits new high

Hero MotoCorp, world’s largest manufacturer of scooters and motorcycles, announced yesterday after market hours that it has joined the ONDC Network, thereby becoming the first auto company in the country to join the network.

Hero MotoCorp already has the largest physical distribution and service network in Indian Auto Industry and being in ONDC will further enhance the reach and convenience, providing an easily accessible digital mode to customers.

The Open Network will initially offer two-wheeler parts, accessories and merchandise. Customers can easily discover Hero Genuine Parts by using any buyer apps on the Network, such as Paytm and Mystore, among others.

By improving reach and creating a fair and efficient environment for Hero MotoCorp’s channel partners, this integration speeds up order processing by enabling hyperlocal deliveries backed by Hero MotoCorp’s extensive physical distribution.

The market is very happy with this development; the stock which has closed yesterday at Rs.4887.95, opened today at Rs.4920 and rose to hit a new lifetime high at Rs.5044, up over 3%.