Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, registered sale of 3,49,393 units in November 2021.
Delay in harvesting due to the late withdrawal of monsoon in many parts of the country, impacted the demand post festive season. With the economy gradually opening up coupled with several other positive indicators, such as encouraging farm activity, confident consumer index and marriage season, a swift revival in sales is expected in the fourth quarter.
Additionally, commodity prices showing some signs of softening aided with the reduction of excise duty on fuel, and increased spending on Capex programs by the government is likely to bring back the momentum in the two-wheeler industry.
The company's electric vehicles (EV) project is progressing as per plans, and the Chittoor manufacturing facility in Andhra Pradesh is gearing up to produce the green products.
The teams at Hero MotoCorp are focused on working across the entire EV eco-system such as battery technology and battery management systems, powertrain, telematics, analytics and diagnostics and charging infrastructure.
Swadesh Srivastava has recently been appointed to head Hero MotoCorp's Emerging Mobility Business Unit (EMBU), which is set for the launch of the first EV product by March 2022.
Swadesh joined recently and has worked with tech-enabled companies such as Apple, Intel, Ola Electric and Flipkart, and has received his PhD & MS from the University of Minnesota and BTech from IIT-Madras.
Shares of Hero MotoCorp Limited was last trading in BSE at Rs. 2445.90 as compared to the previous close of Rs. 2447.95. The total number of shares traded during the day was 20247 in over 2067 trades.
The stock hit an intraday high of Rs. 2479.70 and intraday low of 2438.00. The net turnover during the day was Rs. 49708516.00.