The stock of the country's largest two-wheeler maker, Hero MotoCorp, gained over 4 per cent on expectations that strong demand trends, price hikes, and operating leverage benefits will lift the company's performance going ahead. This, coupled with undemanding valuations, added to the gains. As a result, the Hero MotoCorp was the second highest gainer on the Nifty 50 on Thursday, closing the day at ₹2,509 apiece.
Aided by strong rural sentiment (higher crop prices, robust cash flows and normal monsoon expectations) and ongoing marriage season sales, two-wheeler retail offtake is expected to be strong in the near term. On a lower base, retail sales for two-wheelers have risen by 38 per cent year-on-year (YoY) in April.
The company highlighted that inventory levels have come down to 6-7 weeks now as compared to 7-8 weeks at the end of March due to strong retail sales. With the recovery in the entry-level segment, the market leader, which has a 68.5 per cent share of this segment, is expected to improve on the number.
This story is from the May 06, 2022 edition of Business Standard.
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This story is from the May 06, 2022 edition of Business Standard.
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