May 9, 2023
New Delhi, India
Hero MotoCorp Share Price Surges Over 6% on Strong Q4 Results
Company’s Performance Defies Weak Market Sentiment
Hero MotoCorp’s share price experienced a remarkable surge of over 6% as the company released its robust March quarter (Q4) results, continuing its bullish trend despite prevailing market uncertainties. The stock opened at ₹4631.90 and quickly rose to ₹4,919.85 on the BSE, reflecting investor confidence in the company’s performance.
Impressive Q4 Performance
On May 8, Hero MotoCorp reported an 18% year-on-year increase in its standalone net profit, amounting to ₹1,016 crore compared to ₹858.93 crore in the same period last year. Standalone revenue from operations for the quarter also witnessed a notable growth of 14%, reaching ₹9,519 crore. The company attributed this success to the sale of 13.92 lakh units of motorcycles and scooters in Q4FY24, showcasing a significant increase from the previous year.
Outperforming Market Trends
Hero MotoCorp’s stellar performance is evident in its share price, which has surged nearly 80% over the past year, outpacing both the BSE Auto index and the broader equity benchmark, Sensex. Despite fluctuations in the market, the company’s consistent growth trajectory has propelled its share price to new heights. Notably, Hero MotoCorp’s share price hit its 52-week high of ₹4,979.95 on February 12 this year, underscoring its strong performance.
Conclusion
Hero MotoCorp’s share price surge on the back of strong Q4 results reaffirms investor confidence in the company’s resilience and growth potential. With impressive profit and revenue figures, Hero MotoCorp continues to outperform market trends, cementing its position as a leader in the automotive sector.
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