The Hero Motocorp stock price was the highlight for Tuesday's trading session, when the market valuation of the company crossed the all-important milestone of Rs 1 lakh crore for the first time. Compared to the same period last year, the company has posted a consolidated profit after tax of Rs 810.8 crore. The quarter's consolidated revenue from operations amounted to Rs 9,616.68 crore, an increase from Rs 8,434.28 crore year-on-year.
Maintaining its winning streak for the fifth consecutive session, Hero Motocorp shares surged to a 52-week high of Rs 5,050 per share on the Bombay Stock Exchange (BSE). The stock closed with a 3.15 per cent increase at Rs 5041.90. Similarly, on the National Stock Exchange (NSE), the stock reached a 52-week high of Rs 5,051, closing with a 3.37 per cent rise at Rs 5,050 per share.
By the end of the day, the market capitalization of Hero Motocorp on BSE was Rs 1,00,803.27 crore; on NSE, it was Rs 1,00,965.21 crore. Trading volumes were 49,178 equity shares on BSE, and 13.35 lakh shares on NSE.
The benchmark BSE Sensex gained 328.48 points or 0.45 per cent to settle at 73,104.61, while the broader NSE Nifty gained 113.80 points to close at 22,217.85.
In an important move announced on Monday, Hero MotoCorp said it has joined hands with the Open Network for Digital Commerce to expand its reach and offer digital convenience to customers. The ONDC will start by offering two-wheeler parts, accessories, and merchandise.
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