There is some new data from the Society of Indian Automobile Manufacturers (SIAM). It has stated that Hero Moto remains the market leader in bikes in India – it sold 33,44,292 bikes in first half of FY18, a solid growth of 10% (YoY) despite the GST and slowdown.
Also there is hope that the Diwali season has been very rewarding for the company and it expects the company to report some fire cracker numbers in this season. After all, a lot was hinging on this festival season.
This is the reason why the stock price rose over 2% to Rs.3815. Its 52-week high and low stands at Rs.4200 and Rs.2844 respectively.