Business Today Hero MotoCorp gains after launching Splendor iSmart


Hero MotoCorp rose 0.94% to Rs 3,281.70 at 9:25 IST on BSE after the company launched its first in-house designed and developed motorcycle, Splendor iSmart 110.Meanwhile, the BSE Sensex was up 48.29 points, or 0.17%, to 27,990.40.On BSE, so far 2,347 shares were traded in the counter, compared with an average volume of 39,942 shares in the past one quarter. The stock hit a high of Rs 3,289 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 3,261 so far during the day. The stock hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past one month till 14 July 2016, rising 7.96% compared with 5.86% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 3.16% as against Sensex’s 9.03% rise.The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.Hero MotoCorp (HMCL) after market hours yesterday, 14 July 2016, announced the launch of the new Splendor iSmart 110, the first motorcyle to be developed completely in-house, with HMCL’s own technology. Built on a completely new chassis and frame, the bike is powered by the new 110cc Torque on Demand engine that also features HMCL’s patented i3S technology, the company said. The bike is now available at the Hero dealerships across India. The bike is priced at Rs 53,300 ex-showroom Delhi.Hero MotoCorp’s net profit rose 70.9% to Rs 814.16 crore on 10.3% increase in net sales to Rs 7385.23 crore in Q4 March 2016 over Q4 March 2015.Hero MotoCorp is the world’s largest two-wheeler manufacturer in terms of production capacity.

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