Hero Motocorp touches 52-week low, sheds over 7% in 9 sessions

hero-motocorp

The Indian indices are under pressure on March 25 with Nifty trading below 11,350, while Sensex plunged over 450 points led by auto, metal, bank and pharma stocks.

Hero Motocorp is among the BSE listed stocks that has touched a 52-week low of Rs 2,544.50 on March 25.

In the last nine trading sessions, the stock has lost more than 7 percent. In comparison, BSE Auto index fell 5 percent in the same period.

For the month of February, the two-wheeler manufacturer reported a sales of 6,17,215 units.

In the last one year, the stock has tumbled nearly 26 percent, against 15.4 percent rise in Sensex.

In the first two months of the current quarter, there has been a sequential pickup in the demand, although still lower than expected, said the company management.

The Company expects the demand scenario to improve also on account of increased liquidity in the market through government schemes of direct benefit to farmers and various measures taken by manufacturers to boost retail sales, they added.
At 1406 hours, Hero Motocorp was quoting at Rs 2,554.15, down Rs 51.10, or 1.96 percent on the BSE.

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