Hero Motocorp up 2% on better than expected Dec sales data

Two-wheeler major Hero Motocorp rose as much as 1.94 percent intraday on Wednesday after better-than-expected sales numbers in December due to aggressive sales promotion and high dealer incentives.

The company sold 5.41 lakh units in last month of 2012, increased marginally compared to 5.40 lakh units sold in same month of previous year. However, sales jumped 8 percent compared to 5.02 lakh units sold in November.

Reports suggest that the company is doubling dealer commissions on incremental sales of motorcycles sold December onwards.

At 10:42 hours IST, the stock was up 1.36 percent at Rs 1,923.90 on the Bombay Stock Exchange.

Also Read
Tata Motors hits 52-week high despite poor sales data
Scooters India revival plan sent for cabinet nod; stk up 5%
Royal Orchid board okays debt recast; stock up 5.7%
Glenmark Pharma arm receives US FDA approval; stock up