Harley Davidson - Hero MotoCorp agreement - Angel Broking

Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

Harley-Davidson, Inc. motorcycle manufacturer and Hero MotoCorp has announced agreement. As per agreement Hero MotoCorp will develop and sell 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.

In our view, Hero MotoCorp will benefit from this joint agreement. The company would be able to generate more revenue on the back of selling Harley-Davidson motorcycles. Further, the company has a strong distribution network in India, which would help the company to grow fast in this premium bike segment. So overall this development is positive for Hero Motocorp.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.2912.7 as compared to the previous close of Rs. 2897.8. The total number of shares traded during the day was 65745 in over 9022 trades.

The stock hit an intraday high of Rs. 2975.9 and intraday low of 2854. The net turnover during the day was Rs. 192163738.

Source : Equity Bulls

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