Hero MotoCorp shares extend rally as company unveils new premium motorcycle
Shares of Hero MotoCorp extended their rally to the third consecutive day on Friday after the company on Tuesday unveiled XPulse 200T in the premium motorcycle segment at the EICMA motorcycle show at Milan.
The scrip was trading 1.56 per cent up at Rs 2,935 in early trade at around 9.52 am (IST), while the BSE Sensex was down 146 points, or 0.42 per cent, at 35,091. Shares of the two-wheeler major jumped over 1.20 per cent in the past two trading sessions till November 7.
The touring machine comes with features like ABS, LED head and tail lamps, digital speedometer with Bluetooth connectivity and navigation facility, Hero MotoCorp said in a statement.
The company is preparing to launch XPulse 200 and XPulse 200 T in all its markets beginning next year.
In the statement, Pawan Munjal, CMD, and CEO of Hero MotoCorp said: "Hero MotoCorp is globally known for its fuel-efficient and reliable products, sustainable manufacturing and frugal engineering. We will constantly strive to keep on improving our products".
The country's largest two-wheeler maker Hero MotoCorp Tuesday reported a 3.38 per cent dip in its standalone profit-after-tax to Rs 976.28 crore for the September quarter, mainly on account of higher expenses.
Last month, Hero MotoCorp posted a 3.38 per cent decline in its standalone profit-after-tax to Rs 976.28 crore for the September quarter.
It had posted a net profit of Rs 1,010.49 crore in the same quarter a year ago.
Revenue from operations for the quarter under review stood at Rs 9,090.94 crore as against Rs 8,371.74 crore in the same period previous fiscal.
Total expenses for the quarter stood at Rs 7,866.15 crore as against Rs 7,053.63 crore in the same period a year ago.