Hero MotoCorp's market valuation crosses ₹1 lakh crore
Hero MotoCorp, the two-wheeler manufacturing giant, saw a significant surge in its market valuation on Tuesday, surpassing the ₹1 lakh crore mark for the first time. The company's shares closed higher by 3%, marking its fifth consecutive session of gains. The shares reached a 52-week high of ₹5,050 per share on BSE and closed at ₹5041.90, up by 3.15%. On NSE too, the stock hit a year-high of ₹5,051 and closed higher by 3.37% at ₹5,050 each.
Hero MotoCorp's market valuation on BSE and NSE
At the close of trading, Hero MotoCorp's market valuation stood at ₹1,00,803.27 crore on BSE and ₹1,00,965.21 crore on NSE. In terms of volume trade, BSE saw a trading of 49,178 equity shares while NSE witnessed a trading of 13.35 lakh shares during the day. The broader market also showed positive trends with the BSE Sensex benchmark jumping by 328.48 points to settle at 73,104.61 and NSE Nifty gaining by 113.80 points to close at 22,217.85.
Hero MotoCorp partners with Open Network for digital commerce
In a recent development, Hero MotoCorp announced its association with the Open Network for Digital Commerce (ONDC) to enhance reach and convenience. The partnership aims to provide an easily accessible digital mode to customers. Initially, the company will offer two-wheeler parts, accessories, and merchandise through this network. This move is seen as part of Hero MotoCorp's broader strategy to expand its digital footprint and customer accessibility.
Hero MotoCorp reports rise in Q4 profits
Hero MotoCorp's financial reports from last week showed a rise in consolidated profit after tax by 16.3% to ₹943.46 crore for the fourth quarter ended on March 31, 2024. This marks a significant increase from the consolidated profit after tax of ₹810.8 crore during the same period a year ago. The company's consolidated revenue from operations during the quarter under review stood at ₹9,616.68 crore, compared to ₹8,434.28 crore in the corresponding period a year ago.
