Hero MotoCorp gains highest-ever monthly sales in October 2020

The Shares of Hero MotoCorp has advanced over 1% in Monday’s trade after the firm on Sunday posted its highest ever monthly sales.

The world’s largest two-wheeler manufacturer Hero has sold 8,06,848 units of motorcycles as well as scooters in October 2020, which was up by 35%, against 5,99,248 units sold in the previous year. 

The scrip traded 1.17% higher at Rs 2,832, while the benchmark BSE Sensex was down by 0.14% at 39,559 at around the same time. Also the BSE Auto index was down 0.30% at 17,463. 

Hero MotoCorp in a regulatory filing said, “A positive turnaround in customer sentiments particularly for motorcycles across markets, continued government policy support and a credible resumption of the supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period.” 

Other auto majors including:  

• Ashok Leyland NSE 0.12 %

• MRF and TVS Motor NSE over 0.50 %

• Bajaj Auto NSE 0.18 % (down 1.51 %)

• Maruti Suzuki NSE 0.67 % (down 0.61 %)

With the higher dispatches during the month, the Hero’s customer touchpoints across the country now have adequate inventories in line with market demand in the ongoing festival period, they said.