Hero Motocorp opened around 1% higher today at Rs.2942 and went up to an intraday high at Rs.2952.60 but from there profit booking pushed down the stock price into the red and is currently quoting at Rs.2915.85.
The company yesterday announced its decision to hike the x-showroom prices of its motorcycles and scooters, with effect from September 20, 2021.
The price hike has been necessitated to offset the impact of steadily increasing commodity prices. The price hike across the range of motorcycles and scooters will be up to Rs. 3,000.
The exact quantum of increase will depend on the model and the market.
With several positive indicators, the company remains optimistic about demand as it gears up for the upcoming festive season.