Hero MotoCorp rides high on gearing up for highest-ever model introductions in FY24!

Hero MotoCorp rides high on gearing up for highest-ever model introductions in FY24!

by 5paisa Research Team Last Updated: May 15, 2023 - 05:39 pm 146 Views

Shares of the company gained more than 8% in the last one month.

Premium bike segment 
Hero MotoCorp is gearing up for highest-ever model introductions this fiscal (FY24) as it looks to consolidate market share, especially in the premium bike segment. The country's largest two-wheeler maker plans to introduce new bikes, including the first product under the Hero MotoCorp-Harley Davidson tie-up, during the ongoing financial year.

The company has leadership in the budget bike segment (100-110cc) and is looking to enhance its presence in the 125 cc and also drive in models to bring in volumes and enhance profitability in the 160-cc and above space. The company is bullish on growth prospects this year with plans to further enhance its market share across segments. 

Recently, the company's electric mobility brand, VIDA, has set a new Guinness World Records title for the greatest distance covered on an electric scooter in 24 hours. The VIDA V1 ran non-stop for 24 hours, achieving a distance of 1,780 km, beating the existing record by nearly 350 km.    

Share price movement of Hero MotoCorp Limited 

Today, the stock opened at Rs 2611.05, with a high and low of Rs 2719.00 and Rs 2611.05. The stock closed trading at Rs 2694.45, up by 3.41%. The stock has a 52-week high of Rs 2939.35 and a 52-week low of Rs 2246.75.        

Company profile   

Hero MotoCorp Limited is the world’s largest manufacturer of motorcycles and scooters. With innovation at the core of its philosophy, the New Delhi (India) headquartered Hero MotoCorp has been at the forefront of designing and developing technologically advanced motorcycles and scooters for customers around the world. 

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