Hero MotoCorp rises on the bourses

Hero MotoCorp is currently trading at Rs. 1955.00, up by 17.15 points or 0.89% from its previous closing of Rs. 1937.85 on the BSE.

The scrip opened at Rs. 1937.85 and has touched a high and low of Rs. 1960.00 and Rs. 1937.85 respectively. So far 22,205 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2060.00 on 30-Nov-2010 and a 52 week low of Rs. 1377.95 on 23-Feb-2011.

Last one week high and low of the scrip stood at Rs. 1960.00 and Rs. 1855.00 respectively. The current market cap of the company is Rs. 39,038.00 crore.

The promoters holding in the company stood at 52.21% while Institutions and Non-Institutions held 38.23% and 9.56% respectively.

Hero MotoCorp, India’s largest two-wheeler maker unveiled a plan that will involve investments in excess of Rs 4,500 crore over the next five years to morph itself into an independent and global two-wheeler company. The company has chalked out the plan eight months after breaking its 27-year partnership with Japan’s Honda in a bid to mark its presence as an individual entity.

The company also plans to set up two new plants in India, adding to its existing three that have a total annual capacity in excess of six million two-wheelers. The first new plant will be set up in one of the southern states with an initial capacity of 750,000 units and will address the domestic market. The second plant will be set up in the west with unspecified capacity and would address both domestic and global markets.

In the next five years, Hero MotoCorp hopes to take its gross annual sales to $10 billion, selling 10 million two-wheelers, a tenth of which will be sold outside India. For this the company has identified 30 global markets, covering Southeast Asia, Latin and Central America, and Africa. To address the export markets, the company hopes to start assembly plants outside India though the initial exports will be from its Indian plants. The company is in talks with the European company for technological tie-up. At present Hero has got 200 engineers in its R&D centre and several hundreds will be added to this.

In the 27-year history of Hero MotoCorp, yesterday was a milestone for the company with the launch of a new logo and corporate theme from Oscar-winning music composer A R Rahman. The new theme song, titled Hum Main Hai Hero, was also sung by Rahman. For the event, the company had flown in 1,000 people from India that included top management, employees, suppliers and dealers.