Hero Motocorp cruises 5% on buzz of entry into 440cc segment

The stock of this 2W company has risen almost 62 percent in the past year

Shares of Hero Motocorp Limited surged over 5 percent to Rs 4,367 in afternoon trade on January 11 after CNBC TV-18 reported that the two-wheeler major is set to enter  the 440 cc segment by launching a range of products on January 23.

"Maverick will be Hero's entry into the 440cc segment for India and global markets and will be rolled out commercially in the coming months," CNBC TV-18 said citing sources.

At 1 pm, the counter was trading at Rs 4,360, up 5.4 percent from the previous close on the NSE. The stock, which has risen almost 62 percent in the past year, was a Nifty gainer.

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The company could also unveil a 125cc bike as part of the product lineup, sources said. It would also showcase prototypes as well as production-ready models in Jaipur and launched them in FY24 and FY25.

Also read: Hero MotoCorp rides high on investor confidence despite downgrades by analysts

In December, the world's largest two-wheeler company sold 3,93,952 units against 3,94,179 in the year-ago period.

Motorcycle sales stood at 3,54,658 units against 3,56,749 units in the corresponding period a year ago. Scooter sales in December were, however, higher at 39,294 as against 37,430 units sold a year back.

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