Hero MotoCorp plunges on earning concerns

Hero MotoCorp is currently trading at Rs. 2075.00, down by 170.00 points or 7.57% from its previous closing of Rs 2245.00 on the BSE.

The scrip opened at Rs 2175.00 and has touched a high and low of Rs 2175.00 and Rs 2071.10 respectively. So far 171611 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 2278.50 on 02-May-2012 and a 52 week low of Rs 1482.25 on 15-Jul-2011.

Last one week high and low of the scrip stood at Rs 2278.50 and Rs 2071.00 respectively. The current market cap of the company is Rs 41694.75 crore.

The promoters holding in the company stood at 52.21% while Institutions and Non-Institutions held 39.03% and 8.76% respectively.

Two-wheeler motorcycle manufacturer, Hero MotoCorp narrowly missed estimates after it reported a 20.30% rise in net profit at Rs 603.5 crore for the quarter ended March 31, 2012. It was Rs 501.6 crore in the same period a year ago. The total income increased 12.22% to Rs 6,140 crore from Rs 5,471.3 crore in March 2011. The company’s other income up by 31.25% at Rs 105 crore while it was Rs 80 crore in March 2011.

For the full year, the company posted positive results. Its net profit jumped 23.35% to Rs 2,378.1 crore for the financial year ended March 2012. It was Rs 1,928 crore in March 2011. The total income rose 21.62% at Rs 23,943.6 crore as against Rs 19,687.5 crore in the previous financial year ending March 2011.

The company announced a dividend of Rs 45 per share. It has raised prices of most of its products by Rs 500-1,000 with immediate effect to offset rising input costs.