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During August, festive enquiries were strong, said FADA, and buyers had deferred purchases to September due to the announcement of new and lower GST rates.
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At close, the Sensex was up 79.27 points or 0.10 percent at 80,623.26, and the Nifty was up 21.95 points or 0.09 percent at 24,596.15. About 1708 shares advanced, 1981 shares declined, and 125 shares unchanged.
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About 1,794 shares advanced, 2,113 shares declined, and 175 shares were unchanged.
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In June 2023, the ministry of corporate affairs ordered an investigation against Hero MotoCorp to look into allegations of fund diversion and corporate governance violations
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With consistent policy support, investments in advanced technologies, and efforts to make EVs more accessible, the two-wheeler industry is poised to play a pivotal role in shaping India’s mobility future.
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Two-wheeler players Hero Moto and Harley Davidson have decided to expand the X440 motorcycle range in India into new variants, in an effort to win the market share in the premium segment.
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Hero MotoCorp Q1 FY25 Results Update: Niranjan Gupta, CEO, added, “The overall economic indicators in India are promising, and the inclusive policies as well as capital allocation to infra and rural sector announced in union budget is expected to bolster demand”
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The ITAT verdict upholds Hero Moto's appeal against the reassessment order and rules it invalid, rejecting the tax addition.
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The IPO will be a combination of fresh issue of shares and an Offer For Sale by existing shareholders.
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About 1672 shares advanced, 1516 shares declined, and 89 shares unchanged.
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In FY23, Hero Moto had paid Rs 99.55 crore as remuneration to Pawan Munjal, which was 18.02 percent higher than previous year. After a 20 percent cut, it will be around Rs 80 crore.
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Brokerage firm HDFC Securities has downgraded Hero MotoCorp Ltd (HMC) to reduce from buy and revised its target price to Rs 2512 a share from the current market price.
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European markets end lower after Bank of England implements a 75 basis point rate hike a day after a similar action by the US Fed. The bank also notes that its projections for growth and inflation indicated a “very challenging” outlook for the UK economy as it looks to bring inflation back towards its 2 percent target. And, on the show today, we’ll be discussing why domestic investors are turning sellers despite the recent rally. Stocks in the spotlight today: Hero Moto, Titan, Schneider Electric & Blue Star
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The top losers from the auto space are Tata Motors and Tata Motors DVR which tanked over 5 percent each followed by Bajaj Auto, Hero MotoCorp, Maruti Suzuki, Motherson Sumi Systems, TVS Motor Company, Eicher Motors and Ashok Leyland.
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The top Nifty gainers included Hero Moto, Bajaj Auto, Asian Paints, Britannia Industries and Indian Oil Corporation while the top losers are ONGC, ITC, Hindalco Industries, Mahindra & Mahindra and Eicher Motors.
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Most sectors have given a huge move on the upside, thanks to the multiple signs of support, either on price or momentum or both. The auto sector seems to be leading the pack
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Hero Motocorp has broken important support levels and may fall further
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Foreign investors raised stake in as many as 387 companies including HDFC, Bharat Financial, Indiabulls Housing, IndusInd Bank, Shriram Transport, Bharti Infratel, Zee Entertainment and Hero Moto
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The breadth of the market favoured the advances with 1010 stocks advancing and 667 declining while 379 remained unchanged. On the BSE, 1286 stocks advanced, 1015 declined and 149 remained unchanged.
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The breadth of the market favoured the declines with 580 stocks advancing and 1120 declining while 373 remained unchanged. On the BSE, 926 stocks advanced, 1589 declined and 165 remained unchanged.
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Overall weakness in the market and expectations of a contraction in operating margin have led to significant weakness in the stock. This provides a great opportunity for investors to enter into a fundamentally strong business run by a quality management at a reasonable valuation.
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The commercial vehicle segment continues to remain strong on the back of factors like normal monsoon, improved rural sentiments and investment in infrastructure
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While, FPIs sold Rs 11,037 crore of equity in February, they remained net buyer to the tune of Rs 8,440 crore till March 26, 2018. We think that further increase in yield and possibilities of escalating trade war can weighed on FPI’s sentiments and check their investment in domestic equity, Sumeet Bagadia of choiceindia.com said in an exclusive interview with Moneycontrol's Sunil Shankar Matkar.
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The Nifty Energy index gained 2 percent as stocks like NTPC added 3.4 percent closely followed by Indian Oil Corporation which was up 3.3 percent. HPCL and Oil & Natural Gas Corporation were the other performing stocks.
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Ashwani Gujral of ashwanigujral.com recommends selling Wockhardt with a stop loss of Rs 935, target of Rs 890 and Repco Home with a stop loss of Rs 650, target of Rs 625.
