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Hero Motocorp Plunges 3%; BSE AUTO Index Down 1.9%
Tue, 29 Oct 13:30

Hero Motocorp Plunges 3%; BSE AUTO Index Down 1.9%Image source: ThinkNeo/www.istockphoto.com

Hero Motocorp share price has plunged 3% and is presently trading at Rs 4,768.7.

Meanwhile, the BSE AUTO index is at 53,494.6 (down 1.9%).

Among the top losers in the BSE AUTO index today are Tata Motors (down 4.6%) and Bajaj Auto (down 2.9%).

Escorts (up 4.8%) and Eicher Motor (up 2.0%) are among the top gainers today.

Over the last one year, Hero Motocorp has moved up from Rs 3,138.7 to Rs 4,768.7, registering a gain of Rs 1,630.0 (up 51.9%).

On the other hand, the BSE AUTO index has moved up from 36,901.1 to 53,494.6, registering a gain of 45.0% during the last 12 months.

The top gainers among the BSE AUTO index stocks during this same period were Motherson Sumi (up 104.9%), Cummins India (up 103.3%) and Bosch (up 83.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,870.7 (down 0.2%).

The top losers among the BSE Sensex today are Tata Motors (down 4.6%) and Indusind Bank (down 2.6%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,292.5 (down 0.2%). Tata Motors and Dr. Reddys are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,049.1 to 79,870.7, registering a gain of 15,821.6 points (up 24.7%).

Hero Motocorp Financial Update...

Hero Motocorp net profit grew 36.6% YoY to Rs 10,864 million for the quarter ended June 2024, compared to a profit of Rs 7,950 million a year ago. Net sales rose 15.4% to Rs 102,108 million during the period as against Rs 88,510 million in April-June 2023.

For the year ended March 2024, Hero Motocorp reported 33.7% increase in net profit to Rs 37,422 million compared to net profit of Rs 27,999 million during FY23. Revenue of the company grew 10.6% to Rs 377,886 million during FY24.

The current Price to earnings ratio of Hero Motocorp, based on rolling 12 month earnings, stands at 23.0.


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