Hero Moto on good roads

Hero Morocorp announced yesterday after market closure that during the festive season, a time frame of 35 days, it clocked retail sales of one million or 10 lakh units. This is an increase of 11% in retail sales (YoY).

The company’s two new scooters, Maestro Edge and Duet, have been blockbusters while there has also been a phenomenal demand for the new Splendor PRO. These, along with the sales of Passion PRO and Glamour bikes, and the continuing popularity of Pleasure and Maestro scooters have resulted in this double digit growth.

Naturally, the market is enthused with this news as it now logically expects Q3 performance to be very good. The stock had closed yesterday at Rs.2571.85 and today morning, it opened at Rs.2609.90, going on to an intra day high of Rs.2683,80.