Meanwhile the two-wheeler major on Tuesday unveiled its vision of mobility, innovation & technology at ‘Hero World 2020’. The company announced investment of Rs 10,000 crore over the next 5-7 years.
Hero MotoCorp’s chairman, Dr. Pawan Munjal said, Sustainability and responsible growth remain at the core of Hero MotoCorp’s technology, innovation and global expansion plans. With Hero World 2020, we have curated a novel and unique approach to showcase our future technologies, products and services. Over the next 5-7 years, we are aiming to create the next generation of mobility solutions that are relevant to customers across the world. To this end, we have earmarked an investment of Rs. 10,000 crore along with our ecosystem, which will be utilized towards research and development of alternative mobility solutions, modern, state-of-the-art, sustainable manufacturing facilities, network expansion, and brand building across the globe. As we enter a new decade, we are aiming at ushering in the next wave of mass mobility that is accessible, convenient and environment-friendly.
The S&P BSE Sensex was down 392 points or 0.95% to 40664.13.
On the BSE, 7,928 shares were traded in the counter so far compared with average daily volumes of 56,407 shares in the past two weeks. The stock hit a high of Rs 2280.2 and a low of Rs 2238.1 so far during the day.
The stock hit a 52-week high of Rs 3021.15 on 23 Sep 2019. The stock hit a 52-week low of Rs 2228.25 on 31 Jul 2019.
Hero MotoCorp reported a consolidated net profit to Rs 901.81 crore for Q3 December 2019, up by 16.3% from net profit of Rs 775.26 crore in the same period last year. Net sales declined year-on-year 10.9% to Rs 7074.53 crore in Q3 December 2019.
Hero MotoCorp is a motorcycle and scooter manufacturer. The company is the largest two-wheeler manufacturer in the world.