Net Sales are expected to decrease by 18.1 percent Y-o-Y (down 7.3 percent Q-o-Q) to Rs. 7,443.7 crore, according to ICICI Direct.
Hero MotoCorp Head of Sales, After-Sales & Parts Sanjay Bhan said that in order to attract first-time buyers, the company has introduced a host of special schemes including low down-payment, aggressive interest rates and easy EMIs.
Hero MotoCorp had earmarked a capex of Rs 700 crore in 2018-19.
As there is a major slowdown being witnessed in the auto sector, stocks of major manufacturers have been badly hit. Check out how investor wealth has eroded between September 2018-19.
The country's largest two-wheeler maker said the move would help the government contain potential revenue loss, and at the same time provide relief to around 20 million probable two-wheeler buyers across the country.
The Nifty might have turned negative for 2019, but almost 60% of index constituents are in a bear grip as registered by the 'Death Cross' formation
The compensation package offered under the VRS would include a one-time lump sum payout calculated on the basis of the number of years spent by the employee in the service of the company and his/her remaining years before retirement, taking 58 as the age of superannuation.
Last week, Blu Smart Mobility had claimed that it had raised a $2.2 million in an angel round from multiple investors, led by JITO Angel Network.
SCL said it will be shutting its Padi factory in Tamil Nadu for two days owing to slowdown in the automotive industry.
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, with 0.09 percent gain or 10 points. Nifty futures were trading around 11,081-level on the Singaporean Exchange.
Hero MotoCorp, which sells one out of every two motorcycles sold in the country, has come up with a portal where customers can go and book home delivery of their vehicle at a nominal charge of Rs 349.
ICICI Direct recommended hold rating on Hero MotoCorp with a target price of Rs 2200 in its research report dated July 31, 2019.
Prabhudas Lilladher recommended accumulate rating on Hero Motocorp with a target price of Rs 2529 in its research report dated July 30, 2019.
HDFC Securities is bullish on Hero Motocorp has recommended buy rating on the stock with a target price of Rs 2875 in its research report dated July 31, 2019.
Sharekhan recommended Hold rating on Hero MotoCorp with a target price of Rs 2550 in its research report dated July 30, 2019.
Morgan Stanley maintained its underweight call on Hero MotoCorp post Q1 results but reduced its target price to Rs 2143 from Rs 2459 earlier.
The overall economic and customer sentiments continued to be soft during the first quarter of this fiscal and their impact is clearly visible in the performance of the auto sector, Niranjan Gupta, Chief Financial Officer said.
Company's volumes declined by 12.4 percent YoY to 18 lakh units, but sequentially volumes grew by 3.5 percent.
The Ministry of Road Transport and Highways (MoRTH) released a draft notification dated July 24 to increase vehicle registration fees.
Net Sales are expected to decrease by 7.4 percent Y-o-Y (up 3.5 percent Q-o-Q) to Rs. 8,158 crore, according to Kotak.
As compared to other countries, the market share of electric cars is extremely low in India.
Net Sales are expected to decrease by 6.6 percent Y-o-Y (up 4.4 percent Q-o-Q) to Rs. 8,229.3 crore, according to Prabhudas Lilladher.