
Hero MotoCorp shares rise over 1% on strong Q4, dividend bounty
The auto major has declared a final dividend of ₹35 per share, taking the total dividend for FY23 to ₹100 per equity share.
The auto major has declared a final dividend of ₹35 per share, taking the total dividend for FY23 to ₹100 per equity share.
Hero MotoCorp was the top laggard on the BSE auto index, falling as much as 3.3% to ₹2,470.60 on weak monthly sales in April.
The VRS has been designed with an aim to make the company "agile" and "future-ready", says Hero MotoCorp.
While share prices of leading automobile manufacturers such as Maruti Suzuki, Tata Motors and Mahindra and Mahindra surged as much as 3.5% on Monday, the Nifty Auto index surged 1.53% to 12,430.90.
Pawan Munjal, current CEO and chairman of Hero MotoCorp, will continue as executive chairman and whole-time director on the board.
According to the company, the decision has been necessitated mainly due to cost increases on account of the "OBD 2 transition."
All categories were in green in January 2023, with 2-wheeler, 3-wheeler, passenger vehicle, tractor and commercial vehicles growing by 10%, 59%, 22%, 8% and 16%, respectively, FADA data shows.
Hero MotoCorp, the world’s largest maker of two-wheelers and scooters, plans to leverage the licensing agreement with Harley-Davidson to double down on the profitable segment of premium motorcycles.
Hero MotoCorp has attributed overall inflationary costs as the reason for increasing vehicle prices. The exact quantum of increase will vary by specific models and markets.
Vodafone-Idea shares opened a tad lower at ₹8.53, against the previous closing price of ₹8.57 on the BSE.