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Hero MotoCorp shares gain as two wheeler maker rolls out price hikes to ride out input inflation

The share touched a 52 week high of Rs 2,994.55 and a 52 week low of Rs 2,148.00 on 23 June 2021 and 8 March 2022 respectively

June 24, 2022 / 10:31 AM IST
Hero MotoCorp

Hero MotoCorp

 
 
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Hero MotoCorp share price rose more than a percent in early trade on June 24 after the company said it is going to hike prices of motorcycles and scooters.

Hero MotoCorp will make hike ex-showroom prices of motorcycles and scooters from July 1, as per a press release.

The revision, which will be up to Rs 3,000, is to partially offset the steadily growing input cost inflation.

Also Read - Two-wheeler stocks see buying on renewed optimism for rural demand recovery

Earlier this month, the company deferred the July launch of its first electric two-wheeler as geopolitical tensions have led to supply constraints.

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At 09:20 hrs Hero MotoCorp was quoting at Rs 2,710.15, up Rs 39.30 or 1.47 percent, on the BSE.

The share touched a 52 week high of Rs 2,994.55 and a 52 week low of Rs 2,148.00 on 23 June 2021 and 8 March 2022 respectively.

Currently, it is trading 9.5 percent below its 52 week high and 26.17 percent above its 52 week low.
Moneycontrol News
first published: Jun 24, 2022 09:38 am
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