Hero Moto rides "Harley"

Yesterday, after market hours, Hero MotoCorp announced a deal with the iconic Harley-Davidson.

Harley-Davidson, Inc., the legendary motorcycle manufacturer and Hero MotoCorp, the world’s largest maker of motorcycles and scooters in terms of unit volumes will ride together in India.

As per a distribution agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles, and sell Parts & Accessories and General Merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India.

As part of a Licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

If one may recollect , Harley-Davidson had quit from India in Sept as it sales were pretty low and now, by partnering with Hero, it hopes to cash-in on the latter’s network and reach.

The stock has been gaining for the past two days, opened today with a gain of 2.55% and rose over 4% to hit an intraday high at Rs.3034.50. Volumes are robust, up over 3 times.