|Bid||2,745.25 x 0|
|Ask||2,746.75 x 0|
|Day's range||2,728.05 - 2,788.85|
|52-week range||1,475.00 - 3,021.15|
|Beta (5Y monthly)||0.76|
|PE ratio (TTM)||15.08|
|Forward dividend & yield||90.00 (3.25%)|
|1y target est||3,364.28|
The head of India’s biggest maker of motorcycles and scooters has said demand is returning to pre-coronavirus levels, in an early indication that the economy could be recovering from the pandemic. New Delhi-based Hero MotoCorp sold 450,000 vehicles last month, up from 112,000 in May, partly due to Covid-19 prompting a clamour for modes of transport that let riders socially distance. The June figures represent about 90 per cent of its sales in January, before the coronavirus health crisis took hold in India.
Indian shares ended higher on Wednesday, led by gains in Reliance Industries and financials, as optimism around reopening of the economy and buoyant global risk sentiment trumped concerns over a surge in domestic COVID-19 infections. The NSE Nifty 50 index ended up 0.69% to 10,116, while the benchmark S&P BSE Sensex gained 0.86% at 34,247.05. Heavyweight Reliance Industries added 2.3% and was a top boost to the Nifty 50 index, while IndusInd Bank Ltd surged 7.7%, to end as the top gainer in the Nifty index.
India's biggest automaker Maruti Suzuki <MRTI.NS> and peers Hyundai <005380.KS>, Mahindra & Mahindra <MAHM.NS>, Fiat Chrysler <FCHA.MI>, Ford <F.N> and Toyota <7203.T> said they will halt car production due to the coronavirus outbreak. Sport-utility vehicle maker Mahindra & Mahindra said it aims to start making ventilators for coronavirus patients, mirroring efforts by automakers including Ferrari and Fiat. India has reported 415 cases of the coronavirus but health experts have warned that a big jump could be imminent.
"While this has been part of the annual holiday calendar on account of Independence Day, Raksha Bandhan and the weekend, it also partly reflects the prevailing market demand scenario," the company said.
India's largest two wheeler manufacturer Hero MotoCorp started revamping it's leadership team on Monday. As part of this process, Hero MotoCorp has appointed Vikram Kasbekar as the Chief Technology Officer (CTO), and Rajat Bhargava as the new head of the 'Emerging
Hero MotoCorp Ltd on Tuesday said it had appointed Rajat Bhargava as head of its newly created 'Emerging Mobility' unit as India's biggest motorcycle manufacturer looks to claim a slice of the country's electric vehicle (EV) market. The government, in a bid to promote electric automobiles in polluted cities, last week proposed tax waivers on the purchase of EVs and removed import taxes on some auto components to help boost sales. Hero has created the Emerging Mobility business unit to give an impetus to new mobility trends such as Electric Vehicles, the company said in a statement.