The stock of two/ three-wheeler maker quoted higher for the fourth straight trading day, and has rallied 13 per cent during the period. With the recent run-up, the stock has recovered 29 per cent from its 52-week low of Rs 2,148, touched on March 8, 2022. The stock had hit a 52-week high of Rs 2,980 on July 2, 2021.
"Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from July 1, 2022. The price revision will be up to Rs 3000. The exact quantum of increase will be subject to the specific model and market," the company said in an exchange filing on Thursday after market hours.
The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices, the company said.
In a separate filing on Tuesday, Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, announced the introduction of Euro-5 compliant variants of its three globally popular products in Turkiye.
Management expects the 2W industry to post double-digit growth in FY23 on the back of favourable indicators that include marriage season demand, good festive demand in key regions in April, and positive rural sentiment on the back of healthy crop output.
"We expect Hero MotoCorp to gradually recover its lost market share in motorcycles over the next 2-3 years, led by gradual economic recovery driving consumption from the mid-to-low income consumers – a key segment for the company and revival in rural economy," analysts at HDFC Securities said.
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