Hero MotoCorp market valuation breaches Rs 1 lakh crore for first time

New Delhi: Shares of two-wheeler major Hero Motocorp on Tuesday closed higher by 3 per cent on Tuesday, taking its market valuation to more than Rs 1 lakh crore for the first time.

Continuing its winning run for the fifth session in a row, Hero Motocorp shares hit a 52-week high of Rs 5,050 per share on BSE. The stock closed up by 3.15 per cent at Rs 5041.90.

The stock hit a 52-week high of Rs 5,051 on NSE. Shares closed higher by 3.37 per cent at Rs 5,050 apiece on NSE.

At close, the market valuation of Hero Motocorp stood at Rs 1,00,803.27 crore on BSE and Rs 1,00,965.21 crore on NSE.

In volume trade, 49,178 equity shares were traded on the BSE, while 13.35 lakh shares were traded on the NSE during the day.

The 30-share BSE Sensex benchmark jumped 328.48 points or 0.45 per cent to settle at 73,104.61, while broader NSE Nifty gained 113.80 points to close at 22,217.85.

On Monday, Hero MotoCorp said it has joined the Open Network for Digital Commerce (ONDC) to enhance reach and convenience and provide an easily accessible digital mode to customers.

The open network will initially offer two-wheeler parts, accessories and merchandise.

Last week, two-wheeler maker Hero MotoCorp Ltd reported a 16.3 per cent rise in consolidated profit after tax to Rs 943.46 crore in the fourth quarter ended on March 31, 2024, riding on higher sales.

The company had posted a consolidated profit after tax of Rs 810.8 crore in the same period a year ago.

Consolidated revenue from operations during the quarter under review stood at Rs 9,616.68 crore as against Rs 8,434.28 crore in the corresponding period a year ago.