Hero MotoCorp trades higher on entering into collaboration with HPCL

21 Sep 2022 Evaluate

Hero MotoCorp is currently trading at Rs. 2790.55, up by 19.80 points or 0.71% from its previous closing of Rs. 2770.75 on the BSE.

The scrip opened at Rs. 2780.00 and has touched a high and low of Rs. 2806.65 and Rs. 2780.00 respectively. So far 6412 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2950.00 on 18-Oct-2021 and a 52 week low of Rs. 2148.00 on 08-Mar-2022.

Last one week high and low of the scrip stood at Rs. 2854.00 and Rs. 2666.40 respectively. The current market cap of the company is Rs. 55600.54 crore.

The promoters holding in the company stood at 34.78%, while Institutions and Non-Institutions held 54.42% and 10.81% respectively.

Hero MotoCorp and Hindustan Petroleum Corporation (HPCL), a Maharatna Company in Oil & Gas Sector, have entered into a collaboration to establish charging infrastructure for Electric Vehicles (EVs) in India. As a part of the initiative, the companies will set-up charging infrastructure for two-wheeled electric vehicles (EVs) across India, thereby providing a fillip to mass mobility’s transition towards an electrified future. This collaboration of the two mega entities – Hero MotoCorp and HPCL – highlights their efforts towards enabling a successful transition of mass mobility towards EVs with the assurance of long-term solutions.

The two companies will first establish charging infrastructure at HPCL’s existing network of nationwide energy stations, with the likelihood of subsequently broadening the collaboration for supplementary business opportunities. In the first phase, charging stations will be set up in select cities, which will then be expanded to other key markets with the aim of establishing a high density of EV charging station network across India.

Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters.

Hero MotoCorp Share Price

2851.70 21.15 (0.75%)
30-Nov-2022 18:01 View Price Chart
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