Hero MotoCorp shares fell over 3 per cent to Rs 4,159 on January 3 after the automaker reported weak sales data for December.
In the last 3 months, the two-wheeler maker’s stock has declined over 25 per cent, compared to a 4 per cent decline in the benchmark Nifty 50 index.
In December 2024, the company’s sales declined 18 per cent year-on-year to 3.24 lakh units as against 3.93 units in the same month a year ago. Domestic sales also declined 22 per cent year-on-year to 2.94 units from 3.77 units, while exports grew 91 per cent year-on-year to 30,754 units.
Meanwhile, motorcycle sales declined 15.8 per cent year-on-year to 2.9 lakh units, while scooter sales declined 32.8 per cent year-on-year to 26,390 units.
Going forward, Hero MotoCorp plans to launch premium motorcycles and scooters, including electric ones, in Bharat Mobility 2025.
In an earlier note, analysts at LKP Securities had maintained a “buy” rating on the stock as it had corrected sharply from its 52-week high seen in September 2024, making it attractive in terms of business strength and value.
