Hero MotoCorp climbs 5% after reporting better than expected sales for May

Sequential performance was quite strong. Hero sales grew by 13.2 percent compared to 5.74 lakh units sold in April 2019.

Hero Motocorp shares rallied nearly 5 percent intraday on June 3 after a better-than-expected May sales data.

The country's largest two-wheeler maker sold 6.5 lakh units in May, down 8 percent against 7.06 lakh units sold in the same period last year.

But numbers were better than Nomura expectations of 6.2 lakh units.

Also, sequential performance was quite strong. Hero sales grew 13.2 percent compared to 5.74 lakh units sold in April 2019.

In May, Hero Motocorp launched three new motorcycles including the highly anticipated XPulse 200, the XPulse 200T and the Xtreme 200S, the company said in its filing.

Apart from the three premium motorcycles, the company also launched two new scooters – Maestro Edge 125 and Pleasure+ 110, it added. The stock was quoting at Rs 2,805.40, up to Rs 124, or 4.62 percent on the BSE, at 1018 hours IST.

Profit Plus Financial Services Offering best stock market tips and recommendations in equity and commodity segment. For more share market tips call on @9826278097 or Subscribe Now our Free Share Market Tips on Mobile.