HEROMOTOCO
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Hero MotoCorp Extends Full GST Benefit To Consumers
India's Hero MotoCorp names Harshavardhan Chitale as new top boss
India's Nifty 50 index to include Max Healthcare, InterGlobe Aviation after rejig
Aug 22 (Reuters) - India's National Stock Exchange (NSE) said on Friday it will add hospital-chain operator Max Healthcare MAXE.NS and Indigo-parent InterGlobe Aviation INGL.NS to its benchmark Nifty 50 index .NSEI effective September 30.
IndusInd Bank INBK.NS and Hero MotoCorp HROM.NS will be removed from the index as part of the NSE's semi-annual rebalancing, the exchange said.
(Reporting by Hritam Mukherjee and Urvi Dugar in Bengaluru; Editing by Leroy Leo)
(([email protected];))
Aug 22 (Reuters) - India's National Stock Exchange (NSE) said on Friday it will add hospital-chain operator Max Healthcare MAXE.NS and Indigo-parent InterGlobe Aviation INGL.NS to its benchmark Nifty 50 index .NSEI effective September 30.
IndusInd Bank INBK.NS and Hero MotoCorp HROM.NS will be removed from the index as part of the NSE's semi-annual rebalancing, the exchange said.
(Reporting by Hritam Mukherjee and Urvi Dugar in Bengaluru; Editing by Leroy Leo)
(([email protected];))
Hindustan Unilever names ex-Hero MotoCorp boss Niranjan Gupta as CFO
Adds analyst comment in paragraph 6, shares in paragraph 8-9, sector background in paragraphs 7,10
By Nandan Mandayam and Nishit Navin
Aug 21 (Reuters) - Hindustan Unilever HLL.NS named former Hero MotoCorp HROM.NS CEO Niranjan Gupta as its finance chief on Thursday, succeeding Ritesh Tiwari who will move to a global role at parent Unilever ULVR.L.
Gupta will take charge as CFO of consumer goods maker Unilever's Indian unit from November 1.
He began his career at Hindustan Unilever in 1994, spending 12 years there before a nearly seven-year stint at Unilever, according to his LinkedIn profile.
Gupta's most recent stint was at motorcycle maker Hero MotoCorp, where he spent nearly eight years and was the CEO from May 2023 to April 2025.
Tiwari will relocate to London to assume the role of Global Head of M&A and Treasury at Unilever.
The management shake up comes over a month after the company named Priya Nair as its new chief executive, with Rohit Jawa stepping down before the completion of his five-year term as CEO.
"The CFO change aligns with the broader leadership reshuffle underway, especially with a new CEO coming in. HUL has underperformed on growth over the past couple of years, which has made a leadership overhaul necessary," said Akshay D'Souza, an independent consumer goods consultant.
HUL, which is home to brands such as Dove soap and Surf Excel detergent, has been under pressure from dull urban consumption trends for several quarters. But analysts see the company's quarterly results last month as reflective of a gradually easing environment.
Shares of HUL have risen 13% since Tiwari took charge as CFO in 2021, trailing a basket of consumer goods stocks .NIFYFMCG which rose 50% in the same period.
HUL's stock has jumped 10% since naming Nair as its new CEO on July 10, outperforming the Nifty FMCG index's 1% gain.
The Indian federal government's plan to lower and simplify tax rates on several goods is also expected to benefit consumer goods firms like HUL by driving demand for everything from jams to personal care goods.
(Reporting by Nandan Mandayam and Nishit Navin in Bengaluru; Editing by Krishna Chandra Eluri)
(([email protected]; Mobile: +91 9591011727;))
Adds analyst comment in paragraph 6, shares in paragraph 8-9, sector background in paragraphs 7,10
By Nandan Mandayam and Nishit Navin
Aug 21 (Reuters) - Hindustan Unilever HLL.NS named former Hero MotoCorp HROM.NS CEO Niranjan Gupta as its finance chief on Thursday, succeeding Ritesh Tiwari who will move to a global role at parent Unilever ULVR.L.
Gupta will take charge as CFO of consumer goods maker Unilever's Indian unit from November 1.
He began his career at Hindustan Unilever in 1994, spending 12 years there before a nearly seven-year stint at Unilever, according to his LinkedIn profile.
Gupta's most recent stint was at motorcycle maker Hero MotoCorp, where he spent nearly eight years and was the CEO from May 2023 to April 2025.
Tiwari will relocate to London to assume the role of Global Head of M&A and Treasury at Unilever.
The management shake up comes over a month after the company named Priya Nair as its new chief executive, with Rohit Jawa stepping down before the completion of his five-year term as CEO.
"The CFO change aligns with the broader leadership reshuffle underway, especially with a new CEO coming in. HUL has underperformed on growth over the past couple of years, which has made a leadership overhaul necessary," said Akshay D'Souza, an independent consumer goods consultant.
HUL, which is home to brands such as Dove soap and Surf Excel detergent, has been under pressure from dull urban consumption trends for several quarters. But analysts see the company's quarterly results last month as reflective of a gradually easing environment.
Shares of HUL have risen 13% since Tiwari took charge as CFO in 2021, trailing a basket of consumer goods stocks .NIFYFMCG which rose 50% in the same period.
HUL's stock has jumped 10% since naming Nair as its new CEO on July 10, outperforming the Nifty FMCG index's 1% gain.
The Indian federal government's plan to lower and simplify tax rates on several goods is also expected to benefit consumer goods firms like HUL by driving demand for everything from jams to personal care goods.
(Reporting by Nandan Mandayam and Nishit Navin in Bengaluru; Editing by Krishna Chandra Eluri)
(([email protected]; Mobile: +91 9591011727;))
Autos, consumer stocks lead surge in Indian markets on prospects of sweeping tax cuts
Rewrites throughout, updates stock moves
By Kashish Tandon and Chandini Monnappa
Aug 18 (Reuters) - Indian auto and consumer stocks rallied on Monday, with the auto index .NIFTYAUTO jumping nearly 5% to a 10-month high after the government's plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars.
The government's plan to lower GST on small cars to 18% from 28%, among other changes, as part of tax reforms unveiled by Prime Minister Narendra Modi on Friday, is expected to spur demand and boost consumer spending.
The plans are likely to be announced by Diwali, a major, five-day Hindu festival in October and India's biggest shopping season as households traditionally splurge, leading to the country's consumption cycle peaking around the festival.
"These are strong tailwinds for the market with potential to take it higher," said VK Vijayakumar, chief investment strategist at Geojit Investments, calling the timing of the next major GST reforms a "big positive".
"Sectors like autos and cement, which are presently in the 28% tax slabs, are expected to benefit," he said.
Urban consumers have been tightening their belts in recent quarters, squeezed by high living costs and sluggish income growth. A cut in GST on small cars, the auto-market's most price-sensitive segment, could fire up festive season demand, giving middle-class buyers a break.
Auto stocks .NIFTYAUTO led sectoral gains on the Nifty 50 .NSEI index, and were set for their best day since June 5, 2024.
Maruti Suzuki MRTI.NS and Hyundai Motor India HYUN.NS jumped 8% and 9%, respectively, to a record high.
Additionally, the simpler two-rate structure - slabs of 5% and 18%, with the 12% and 28% slabs scrapped - would make a host of products cheaper, from butter and fruit juices to dry fruits, offering a lift to consumer goods firms and shoppers.
Consumption stocks such as Hindustan Unilever HLL.NS, Nestle India NEST.NS and Dabur DABU.NS gained between 4% and 7%, powering the FMCG index .NIFTYFMCG 1.8% higher.
Brokerages see potential GST cuts driving consumption boom across sectors https://reut.rs/4fCLOs2
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)
(([email protected]; 8800437922;))
Rewrites throughout, updates stock moves
By Kashish Tandon and Chandini Monnappa
Aug 18 (Reuters) - Indian auto and consumer stocks rallied on Monday, with the auto index .NIFTYAUTO jumping nearly 5% to a 10-month high after the government's plans of sweeping tax cuts, including lower goods and services tax (GST) on small cars.
The government's plan to lower GST on small cars to 18% from 28%, among other changes, as part of tax reforms unveiled by Prime Minister Narendra Modi on Friday, is expected to spur demand and boost consumer spending.
The plans are likely to be announced by Diwali, a major, five-day Hindu festival in October and India's biggest shopping season as households traditionally splurge, leading to the country's consumption cycle peaking around the festival.
"These are strong tailwinds for the market with potential to take it higher," said VK Vijayakumar, chief investment strategist at Geojit Investments, calling the timing of the next major GST reforms a "big positive".
"Sectors like autos and cement, which are presently in the 28% tax slabs, are expected to benefit," he said.
Urban consumers have been tightening their belts in recent quarters, squeezed by high living costs and sluggish income growth. A cut in GST on small cars, the auto-market's most price-sensitive segment, could fire up festive season demand, giving middle-class buyers a break.
Auto stocks .NIFTYAUTO led sectoral gains on the Nifty 50 .NSEI index, and were set for their best day since June 5, 2024.
Maruti Suzuki MRTI.NS and Hyundai Motor India HYUN.NS jumped 8% and 9%, respectively, to a record high.
Additionally, the simpler two-rate structure - slabs of 5% and 18%, with the 12% and 28% slabs scrapped - would make a host of products cheaper, from butter and fruit juices to dry fruits, offering a lift to consumer goods firms and shoppers.
Consumption stocks such as Hindustan Unilever HLL.NS, Nestle India NEST.NS and Dabur DABU.NS gained between 4% and 7%, powering the FMCG index .NIFTYFMCG 1.8% higher.
Brokerages see potential GST cuts driving consumption boom across sectors https://reut.rs/4fCLOs2
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)
(([email protected]; 8800437922;))
India's Hero MotoCorp top weekly gainer on Nifty 50 after Q1 profit beat
** Shares of Hero MotoCorp HROM.NS up 7.6% this week, set for best weekly gain since week ended May 12
** Stock top weekly gainer on benchmark Nifty 50 .NSEI, which is down 0.56% for the week
** Nifty Auto index .NIFTYAUTO up 0.7% for the week
** Gains driven by the two-wheeler maker's first-quarter profit marginally rising, beating analysts estimate of a fall in profit, as higher exports offset weak domestic sales
** Peers, Bajaj Auto BAJA.NS and TVS Motor TVSM.NS also topped profit estimates this week
** BAJA and TVSM up 2.2% and 4.4% for the week, respectively
** Avg rating on HROM and BAJA at "hold", TVSM at "buy" - data compiled by LSEG
** YTD, HROM and TVSM up ~11% and ~26% respectively, BAJA down ~7%
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Hero MotoCorp HROM.NS up 7.6% this week, set for best weekly gain since week ended May 12
** Stock top weekly gainer on benchmark Nifty 50 .NSEI, which is down 0.56% for the week
** Nifty Auto index .NIFTYAUTO up 0.7% for the week
** Gains driven by the two-wheeler maker's first-quarter profit marginally rising, beating analysts estimate of a fall in profit, as higher exports offset weak domestic sales
** Peers, Bajaj Auto BAJA.NS and TVS Motor TVSM.NS also topped profit estimates this week
** BAJA and TVSM up 2.2% and 4.4% for the week, respectively
** Avg rating on HROM and BAJA at "hold", TVSM at "buy" - data compiled by LSEG
** YTD, HROM and TVSM up ~11% and ~26% respectively, BAJA down ~7%
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
India's Hero MotoCorp climbs on quarterly profit beat
** India's top two-wheeler maker by sales Hero MotoCorp HROM.NS gains 2.3% to 4,577 rupees
** Co's first-quarter profit rose marginally, beating analysts estimate of a fall in profit, as higher exports offset weak local sales
** HROM among nine stocks trading in green on the benchmark Nifty 50 index .NSEI, which is down 0.6% after the U.S. slapped an extra 25% tariff on Indian exports .BO
** Stock biggest pct gainer on Nifty and on top of the auto index .NIFTYAUTO, which is down 0.7%
** Stock rated "hold" on avg; Baja Auto BAJA.NS, TVS Motor TVSM.NS rated "buy" - data compiled by LSEG
** Year-to-date, HROM, TVSM up ~10%, ~25%, BAJA down ~8%
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** India's top two-wheeler maker by sales Hero MotoCorp HROM.NS gains 2.3% to 4,577 rupees
** Co's first-quarter profit rose marginally, beating analysts estimate of a fall in profit, as higher exports offset weak local sales
** HROM among nine stocks trading in green on the benchmark Nifty 50 index .NSEI, which is down 0.6% after the U.S. slapped an extra 25% tariff on Indian exports .BO
** Stock biggest pct gainer on Nifty and on top of the auto index .NIFTYAUTO, which is down 0.7%
** Stock rated "hold" on avg; Baja Auto BAJA.NS, TVS Motor TVSM.NS rated "buy" - data compiled by LSEG
** Year-to-date, HROM, TVSM up ~10%, ~25%, BAJA down ~8%
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Hero Motocorp Q1 PAT 11.26 Billion Rupees
Aug 6 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP Q1 PAT 11.26 BILLION RUPEES; IBES PROFIT EST. 10.63 BILLION RUPEES
HERO MOTOCORP Q1 REVENUE FROM OPERATIONS 95.79 BILLION RUPEES; IBES EST. 98.42 BILLION RUPEES
Source text: [ID:]
Further company coverage: HROM.NS
(([email protected];;))
Aug 6 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP Q1 PAT 11.26 BILLION RUPEES; IBES PROFIT EST. 10.63 BILLION RUPEES
HERO MOTOCORP Q1 REVENUE FROM OPERATIONS 95.79 BILLION RUPEES; IBES EST. 98.42 BILLION RUPEES
Source text: [ID:]
Further company coverage: HROM.NS
(([email protected];;))
Castrol India's second-quarter profit rises on higher demand
Aug 5 (Reuters) - Castrol India CAST.NS reported a 5.1% rise in second-quarter profit on Tuesday, fuelled by steady demand for its automobile and industrial lubrication products.
The engine oil and industrial lubricants maker, majority-owned by BP BP.L, posted a profit after tax of 2.44 billion rupees ($27.8 million) for the quarter ended June 30, up from 2.32 billion rupees a year ago.
Revenue from operations grew 7.1% to 14.97 billion rupees, while total expenses rose 6.6%, driven by a 3.2% increase in raw material costs.
India's retail vehicle sales rose nearly 5% year-on-year during in the quarter, lifting demand for companies like Castrol, which generates roughly 80% of its revenue from the auto sector.
Two-wheeler sales were up 5.02%, while passenger vehicles and commercial vehicle sales grew by about 3% and 1%, respectively.
Castrol India supplies lubricants to major auto manufacturers in the country, including Maruti Suzuki MRTI.NS and Hero MotoCorp HROM.NS.
In its latest annual report, the company detailed plans to expand its geographic reach by broadening its product portfolio, enhancing its workshop network and investing in premium lubricant brands.
"Industrial is a long-term growth area for us, and we’ve seen encouraging traction in the first half," said Managing Director Kedar Lele in a statement.
Shares of the company are up 1.6% higher after results were reported, having gained 9.3% in the reported quarter.
In comparison, shares of smaller peer Gulf Oil Lubricants India GOLU.NS jumped 10.2% in the same period.
($1 = 87.7940 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sumana Nandy)
(([email protected]; +91 8921483410;))
Aug 5 (Reuters) - Castrol India CAST.NS reported a 5.1% rise in second-quarter profit on Tuesday, fuelled by steady demand for its automobile and industrial lubrication products.
The engine oil and industrial lubricants maker, majority-owned by BP BP.L, posted a profit after tax of 2.44 billion rupees ($27.8 million) for the quarter ended June 30, up from 2.32 billion rupees a year ago.
Revenue from operations grew 7.1% to 14.97 billion rupees, while total expenses rose 6.6%, driven by a 3.2% increase in raw material costs.
India's retail vehicle sales rose nearly 5% year-on-year during in the quarter, lifting demand for companies like Castrol, which generates roughly 80% of its revenue from the auto sector.
Two-wheeler sales were up 5.02%, while passenger vehicles and commercial vehicle sales grew by about 3% and 1%, respectively.
Castrol India supplies lubricants to major auto manufacturers in the country, including Maruti Suzuki MRTI.NS and Hero MotoCorp HROM.NS.
In its latest annual report, the company detailed plans to expand its geographic reach by broadening its product portfolio, enhancing its workshop network and investing in premium lubricant brands.
"Industrial is a long-term growth area for us, and we’ve seen encouraging traction in the first half," said Managing Director Kedar Lele in a statement.
Shares of the company are up 1.6% higher after results were reported, having gained 9.3% in the reported quarter.
In comparison, shares of smaller peer Gulf Oil Lubricants India GOLU.NS jumped 10.2% in the same period.
($1 = 87.7940 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sumana Nandy)
(([email protected]; +91 8921483410;))
India's Ather Energy posts narrower quarterly loss, flags rare earth headwinds
Recasts paragraph 1, adds details from earnings call
By Meenakshi Maidas
Aug 4 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS reported a narrower first-quarter loss on Monday on higher demand, and said it expects a week of "potential business impact" only in the second quarter due to China's rare-earth magnet export ban.
Ather expects around a week's worth of a supply gap to dealers due to China's ban but aims to manage the impact with existing inventory, CEO Tarun Mehta said in post-earnings call.
The company is also exploring alternatives, including a shift to more widely available light rare earth magnets, which remain unrestricted, he added.
China, which supplies around 90% of the world's rare earth magnets, imposed the export ban in April.
Last week major Indian carmakers Mahindra MAHM.NS, Hyundai India HYUN.NS shrugged off medium-term issues from the export ban, with Mahindra saying it was using alternatives such as light rare-earths and ferrites.
Ather Energy, which makes the popular "Rizta" e-scooter, said its losses narrowed to 1.78 billion rupees ($20.3 million) in the quarter ended June 30 from 1.83 billion rupees a year ago, helped by sales that grew nearly two-fold to 46,078 units.
Backed by Hero MotoCorp HROM.NS, Ather entered India's electric vehicle market in 2018 as an early mover, but has since lost ground to rivals such as Ola Electric OLAE.NS and legacy players with stronger finances and a broader reach.
Its revenue surged 78.8% on-year to 6.45 billion rupees, but rising material costs pushed overall expenses 54.4% higher.
Its adjusted gross margin rose to 23% from 19% a year ago, driven by non-vehicle revenue such as warranty programs, software and accessories such as its "Halo" helmets.
Ather's shares rose as much as 19.4% to a record high of 414.65 rupees on Monday after its quarterly results and closed 14% higher.
($1 = 87.6320 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Nivedita Bhattacharjee, Mrigank Dhaniwala and Sonia Cheema)
(([email protected]; +91 8921483410;))
Recasts paragraph 1, adds details from earnings call
By Meenakshi Maidas
Aug 4 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS reported a narrower first-quarter loss on Monday on higher demand, and said it expects a week of "potential business impact" only in the second quarter due to China's rare-earth magnet export ban.
Ather expects around a week's worth of a supply gap to dealers due to China's ban but aims to manage the impact with existing inventory, CEO Tarun Mehta said in post-earnings call.
The company is also exploring alternatives, including a shift to more widely available light rare earth magnets, which remain unrestricted, he added.
China, which supplies around 90% of the world's rare earth magnets, imposed the export ban in April.
Last week major Indian carmakers Mahindra MAHM.NS, Hyundai India HYUN.NS shrugged off medium-term issues from the export ban, with Mahindra saying it was using alternatives such as light rare-earths and ferrites.
Ather Energy, which makes the popular "Rizta" e-scooter, said its losses narrowed to 1.78 billion rupees ($20.3 million) in the quarter ended June 30 from 1.83 billion rupees a year ago, helped by sales that grew nearly two-fold to 46,078 units.
Backed by Hero MotoCorp HROM.NS, Ather entered India's electric vehicle market in 2018 as an early mover, but has since lost ground to rivals such as Ola Electric OLAE.NS and legacy players with stronger finances and a broader reach.
Its revenue surged 78.8% on-year to 6.45 billion rupees, but rising material costs pushed overall expenses 54.4% higher.
Its adjusted gross margin rose to 23% from 19% a year ago, driven by non-vehicle revenue such as warranty programs, software and accessories such as its "Halo" helmets.
Ather's shares rose as much as 19.4% to a record high of 414.65 rupees on Monday after its quarterly results and closed 14% higher.
($1 = 87.6320 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Nivedita Bhattacharjee, Mrigank Dhaniwala and Sonia Cheema)
(([email protected]; +91 8921483410;))
Hero Motocorp Launches HF Deluxe Pro Priced At Around 73,550 Rupees
July 22 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP LTD - LAUNCHES HF DELUXE PRO PRICED AT AROUND 73,550 RUPEES
Source text: ID:nBSE3J70CL
Further company coverage: HROM.NS
(([email protected];;))
July 22 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP LTD - LAUNCHES HF DELUXE PRO PRICED AT AROUND 73,550 RUPEES
Source text: ID:nBSE3J70CL
Further company coverage: HROM.NS
(([email protected];;))
Hero Motocorp Appoints Kausalya Nandakumar As Chief Business Officer Of Emerging Mobility Business
July 10 (Reuters) - Hero MotoCorp Ltd HROM.NS:
APPOINTS KAUSALYA NANDAKUMAR AS CHIEF BUSINESS OFFICER TO SPEARHEAD EMERGING MOBILITY, EV GROWTH
Source text: ID:nBSE8rfwQ2
Further company coverage: HROM.NS
(([email protected];))
July 10 (Reuters) - Hero MotoCorp Ltd HROM.NS:
APPOINTS KAUSALYA NANDAKUMAR AS CHIEF BUSINESS OFFICER TO SPEARHEAD EMERGING MOBILITY, EV GROWTH
Source text: ID:nBSE8rfwQ2
Further company coverage: HROM.NS
(([email protected];))
India Autodealers Body FADA Says Cautiously Optimistic For Near Term
July 7 (Reuters) -
INDIA AUTODEALERS BODY FADA: CAUTIOUSLY OPTIMISTIC VIEW FOR NEAR TERM
INDIA'S FADA: RARE-EARTH SHORTAGES, GEOPOLITICAL TENSIONS & US-TARIFF SPILL-OVERS DEMAND VIGILANCE
INDIA'S FADA: CHALLENGES IN SECURING RARE-EARTH MATERIALS STALLED COMPONENT PRODUCTION
INDIA'S FADA: IN NEAR TERM, ABOVE-NORMAL MONSOON RAINS SHOULD BOLSTER RURAL DEMAND
INDIA AUTODEALERS BODY FADA: JUNE PASSENGER VEHICLE RETAIL SALES ROSE 4.84 % Y/Y
INDIA AUTODEALERS BODY FADA: JUNE TWO-WHEELERS RETAIL SALES UP 4.73% Y/Y
INDIA AUTODEALERS BODY FADA: JUNE COMMERICAL VEHICLE RETAIL SALES ROSE 6.60% Y/Y
INDIA'S FADA: AS WE ENTER JULY 2025, DEALER SENTIMENT APPEARS TILTED TOWARDS SLOWDOWN
(([email protected];;))
July 7 (Reuters) -
INDIA AUTODEALERS BODY FADA: CAUTIOUSLY OPTIMISTIC VIEW FOR NEAR TERM
INDIA'S FADA: RARE-EARTH SHORTAGES, GEOPOLITICAL TENSIONS & US-TARIFF SPILL-OVERS DEMAND VIGILANCE
INDIA'S FADA: CHALLENGES IN SECURING RARE-EARTH MATERIALS STALLED COMPONENT PRODUCTION
INDIA'S FADA: IN NEAR TERM, ABOVE-NORMAL MONSOON RAINS SHOULD BOLSTER RURAL DEMAND
INDIA AUTODEALERS BODY FADA: JUNE PASSENGER VEHICLE RETAIL SALES ROSE 4.84 % Y/Y
INDIA AUTODEALERS BODY FADA: JUNE TWO-WHEELERS RETAIL SALES UP 4.73% Y/Y
INDIA AUTODEALERS BODY FADA: JUNE COMMERICAL VEHICLE RETAIL SALES ROSE 6.60% Y/Y
INDIA'S FADA: AS WE ENTER JULY 2025, DEALER SENTIMENT APPEARS TILTED TOWARDS SLOWDOWN
(([email protected];;))
Hero Motocorp Launches Vida VX2 E-Scooter
July 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP LTD - LAUNCHES VIDA VX2 E-SCOOTER
HERO MOTOCORP LTD - VIDA VX2 VARIANTS STARTING AT 59,490 RUPEES
HERO MOTOCORP LTD - BATTERY-AS-A-SERVICE PLANS START AT 0.96 RUPEE PER KM
Source text: ID:nBSETlSZY
Further company coverage: HROM.NS
(([email protected];;))
July 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP LTD - LAUNCHES VIDA VX2 E-SCOOTER
HERO MOTOCORP LTD - VIDA VX2 VARIANTS STARTING AT 59,490 RUPEES
HERO MOTOCORP LTD - BATTERY-AS-A-SERVICE PLANS START AT 0.96 RUPEE PER KM
Source text: ID:nBSETlSZY
Further company coverage: HROM.NS
(([email protected];;))
Hero MotoCorp To Introduce Vida VX2 With Battery-As-A-Service Model
June 18 (Reuters) - Hero MotoCorp Ltd HROM.NS:
TO INTRODUCE VIDA VX2
TO INTRODUCE VIDA VX2 WITH BATTERY-AS-A-SERVICE MODEL
Source text: ID:nBSE9q8HcT
Further company coverage: HROM.NS
(([email protected];;))
June 18 (Reuters) - Hero MotoCorp Ltd HROM.NS:
TO INTRODUCE VIDA VX2
TO INTRODUCE VIDA VX2 WITH BATTERY-AS-A-SERVICE MODEL
Source text: ID:nBSE9q8HcT
Further company coverage: HROM.NS
(([email protected];;))
India's markets regulator greenlights Hero Fincorp's $430 million IPO
May 28 (Reuters) - India's markets regulator on Wednesday approved Hero Fincorp's HERO.NS initial public offering, according to a notification on its website.
BY THE NUMBERS
The IPO of the financial arm of two-wheeler maker Hero MotoCorp HROM.NS is valued at 36.68 billion rupees (about $430 million).
It consists of a fresh issue of shares worth 21 billion rupees and shareholders will sell stocks worth 15.68 billion rupees, as per the prospectus.
WHY IT'S IMPORTANT
Hero Fincorp's IPO comes at a time when investor sentiment has taken a hit due to global trade and geopolitical tensions.
Companies seeking to tap the Indian capital market have either delayed or downsized their IPOs this year, including LG Electronics India LGEL.NS.
The value of shares sold in India at IPOs is down 5% year-on-year in 2025, LSEG data from early-May showed, while the number of issues has dropped 31%.
The blue-chip Nifty 50 .NSEI is down about 6% from record-highs hit in September.
($1 = 85.3500 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +918447554364;))
May 28 (Reuters) - India's markets regulator on Wednesday approved Hero Fincorp's HERO.NS initial public offering, according to a notification on its website.
BY THE NUMBERS
The IPO of the financial arm of two-wheeler maker Hero MotoCorp HROM.NS is valued at 36.68 billion rupees (about $430 million).
It consists of a fresh issue of shares worth 21 billion rupees and shareholders will sell stocks worth 15.68 billion rupees, as per the prospectus.
WHY IT'S IMPORTANT
Hero Fincorp's IPO comes at a time when investor sentiment has taken a hit due to global trade and geopolitical tensions.
Companies seeking to tap the Indian capital market have either delayed or downsized their IPOs this year, including LG Electronics India LGEL.NS.
The value of shares sold in India at IPOs is down 5% year-on-year in 2025, LSEG data from early-May showed, while the number of issues has dropped 31%.
The blue-chip Nifty 50 .NSEI is down about 6% from record-highs hit in September.
($1 = 85.3500 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +918447554364;))
India's Hero MotoCorp set for best week in five years
** Shares of Hero MotoCorp Ltd HROM.NS jump nearly 12% this week, set for their best weekly performance since April 2020
** HROM among top weekly pct gainers on blue-chip Nifty 50 .NSEI index this week
** India's top two-wheeler maker down 0.4% on the day after rising for four straight sessions
** Analysts express confidence in HROM's ability to benefit from rising motorcycle demand in rural India
** Some also raise PT on stock citing attractive valuations
** HROM rated "hold" on avg by analysts tracking stock vs "buy" for TVS Motor TVSM.NS and Bajaj Auto BAJA.NS - LSEG data
** Median PT on HROM at 4,628 rupees - LSEG
** Stock turned YTD positive this week, up 3.6% this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of Hero MotoCorp Ltd HROM.NS jump nearly 12% this week, set for their best weekly performance since April 2020
** HROM among top weekly pct gainers on blue-chip Nifty 50 .NSEI index this week
** India's top two-wheeler maker down 0.4% on the day after rising for four straight sessions
** Analysts express confidence in HROM's ability to benefit from rising motorcycle demand in rural India
** Some also raise PT on stock citing attractive valuations
** HROM rated "hold" on avg by analysts tracking stock vs "buy" for TVS Motor TVSM.NS and Bajaj Auto BAJA.NS - LSEG data
** Median PT on HROM at 4,628 rupees - LSEG
** Stock turned YTD positive this week, up 3.6% this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
India's Hero MotoCorp gains on rural growth, new launches pipeline
** India's Hero MotoCorp HROM.NS jumps more than 2.6% to three-month high of 4,174 rupees
** Stock on course to rise for the fifth consecutive session
** Co announces plans to launch two affordable electric vehicles in July and identifies better monsoon and a good marriage season as positives for rural demand growth
** "Hero MotoCorp is well-placed to benefit (from rural growth) as it has a wide network and a strong presence in 100–125cc categories," says Nuvama
** CLSA maintains "outperform" rating as stock trading at 10% discount to 10-year average valuations
** Analysts on average rate stock "hold", median PT 4,594 rupees, as per LSEG data
** HROM erases YTD losses, up 0.3%
(Reporting by Vivek Kumar M)
(([email protected];))
** India's Hero MotoCorp HROM.NS jumps more than 2.6% to three-month high of 4,174 rupees
** Stock on course to rise for the fifth consecutive session
** Co announces plans to launch two affordable electric vehicles in July and identifies better monsoon and a good marriage season as positives for rural demand growth
** "Hero MotoCorp is well-placed to benefit (from rural growth) as it has a wide network and a strong presence in 100–125cc categories," says Nuvama
** CLSA maintains "outperform" rating as stock trading at 10% discount to 10-year average valuations
** Analysts on average rate stock "hold", median PT 4,594 rupees, as per LSEG data
** HROM erases YTD losses, up 0.3%
(Reporting by Vivek Kumar M)
(([email protected];))
Hero Motocorp Exec Aims For Product Launches In 125 CC Category For Future
May 14 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP EXEC: AIMS FOR PRODUCT LAUNCHES IN 125 CC CATEGORY FOR FUTURE
HERO MOTOCORP EXEC: FEW LAUNCHES IN Q4 YET TO MANIFEST IN VOLUMES
HERO MOTOCORP EXEC: 4-5 WEEKS IS CURRENTLY CHANNEL INVENTORY
HERO MOTOCORP EXEC: THIS YEAR EXPECT INDUSTRY TO GROW IN REGION OF 6-7%
HERO MOTOCORP EXEC: NO RETAIL IMPACT FROM FEW PLANT PRODUCTION HALT AS OF NOW
HERO MOTOCORP EXEC: WILL SEE IMPACT OF OBD2 PRICE INCREASE FROM Q1
HERO MOTOCORP EXEC: SEES BETTER MONSOON, GOOD MARRIAGE SEASON AS POSITIVES FOR RURAL GROWTH THIS YEAR
HERO MOTOCORP EXEC: PLANS LAUNCH OF 2 AFFORDABLE EVS IN JULY
Source text: [ID:]
Further company coverage: HROM.NS
(([email protected];))
May 14 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP EXEC: AIMS FOR PRODUCT LAUNCHES IN 125 CC CATEGORY FOR FUTURE
HERO MOTOCORP EXEC: FEW LAUNCHES IN Q4 YET TO MANIFEST IN VOLUMES
HERO MOTOCORP EXEC: 4-5 WEEKS IS CURRENTLY CHANNEL INVENTORY
HERO MOTOCORP EXEC: THIS YEAR EXPECT INDUSTRY TO GROW IN REGION OF 6-7%
HERO MOTOCORP EXEC: NO RETAIL IMPACT FROM FEW PLANT PRODUCTION HALT AS OF NOW
HERO MOTOCORP EXEC: WILL SEE IMPACT OF OBD2 PRICE INCREASE FROM Q1
HERO MOTOCORP EXEC: SEES BETTER MONSOON, GOOD MARRIAGE SEASON AS POSITIVES FOR RURAL GROWTH THIS YEAR
HERO MOTOCORP EXEC: PLANS LAUNCH OF 2 AFFORDABLE EVS IN JULY
Source text: [ID:]
Further company coverage: HROM.NS
(([email protected];))
India's Hero MotoCorp, Bajaj Auto fall after lower April sales
** Shares of two-wheeler makers Hero MotoCorp HROM.NS and Bajaj Auto BAJA.NS fall 1.7% and 2%, respectively, after lower sales in April
** HROM's total dispatches were 305,406 units in April vs 533,585 units year ago
** HROM implemented temporary production halt from Apr 17–19 at its Dharuhera, Gurugram, Haridwar, and Neemrana facilities for supply chain alignment, scheduled maintenance, and infrastructure enhancements; anticipates normalization in May
** BAJA's April total sales fell 6% Y/Y to 365,810 units
** BAJA's 2-wheelers' sales dropped 7% Y/Y, while commercial vehicles sales rose 3% Y/Y
** YTD, HROM down ~10% and BAJA down ~11% vs ~3% gains in Nifty 50 index .NSEI
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of two-wheeler makers Hero MotoCorp HROM.NS and Bajaj Auto BAJA.NS fall 1.7% and 2%, respectively, after lower sales in April
** HROM's total dispatches were 305,406 units in April vs 533,585 units year ago
** HROM implemented temporary production halt from Apr 17–19 at its Dharuhera, Gurugram, Haridwar, and Neemrana facilities for supply chain alignment, scheduled maintenance, and infrastructure enhancements; anticipates normalization in May
** BAJA's April total sales fell 6% Y/Y to 365,810 units
** BAJA's 2-wheelers' sales dropped 7% Y/Y, while commercial vehicles sales rose 3% Y/Y
** YTD, HROM down ~10% and BAJA down ~11% vs ~3% gains in Nifty 50 index .NSEI
(Reporting by Vijay Malkar)
(([email protected];))
Indian e-scooter maker Ather's $352 million IPO crosses finish line on final day of bidding
Recasts throughout
By Nandan Mandayam
April 30 (Reuters) - Indian electric scooter maker Ather Energy's ATHR.NS $352 million IPO reached full subscription on the final day of bidding on Wednesday after a slow start in a week where market volatility capped investor interest.
The company, which counts top motorcycle maker Hero MotoCorp HROM.NS as its largest shareholder, is seeking a valuation of $1.4 billion through the share sale, India's third-largest this year.
Ather received bids worth 24.13 billion rupees ($286 million), exceeding the 17.13 billion rupees on offer, after raising 13.40 billion rupees last week from large "anchor" investors including the Abu Dhabi Investment Authority and Temasek.
Qualified institutional buyers, for whom 54% of the shares were reserved in the public offering, led with bids worth 15.6 billion rupees, followed by retail investors, who bid for 5.31 billion rupees of shares.
Hero MotoCorp did not sell its shares in the IPO.
Analysts are viewing Ather Energy's share sale as a litmus test for India's IPO market, where momentum has slowed down amid a broader market decline.
India's IPO market, the world's second-largest last year by proceeds, is down about 15% in 2025, as per LSEG data, with global market volatility and shifting U.S. tariffs forcing companies to rethink listings to avoid weak demand or failures.
Adding to the pain are recent market jitters over rising India-Pakistan tensions, which dampened investor appetite for the Ather IPO, said Aditya Kondawar, Partner & Vice President at Complete Circle Capital.
Meanwhile, analysts at brokerage Geojit said Ather's IPO "appeared expensive", but recommended it to high-risk investors seeking long-term gains, citing the company's "pioneer" status and robust research and development.
Ather was one of the first companies to sell e-scooters in India in 2018, but fell behind larger rivals Ola Electric OLAE.NS, TVS Motor TVSM.NS, and Bajaj Auto BAJA.NS, whose discounts and wider distribution networks have driven sales.
The company will use most of the 26.26 billion rupees it raises from the sale of new shares to build a third factory and for research and development.
($1 = 84.5040 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; Mobile: +91 9591011727;))
Recasts throughout
By Nandan Mandayam
April 30 (Reuters) - Indian electric scooter maker Ather Energy's ATHR.NS $352 million IPO reached full subscription on the final day of bidding on Wednesday after a slow start in a week where market volatility capped investor interest.
The company, which counts top motorcycle maker Hero MotoCorp HROM.NS as its largest shareholder, is seeking a valuation of $1.4 billion through the share sale, India's third-largest this year.
Ather received bids worth 24.13 billion rupees ($286 million), exceeding the 17.13 billion rupees on offer, after raising 13.40 billion rupees last week from large "anchor" investors including the Abu Dhabi Investment Authority and Temasek.
Qualified institutional buyers, for whom 54% of the shares were reserved in the public offering, led with bids worth 15.6 billion rupees, followed by retail investors, who bid for 5.31 billion rupees of shares.
Hero MotoCorp did not sell its shares in the IPO.
Analysts are viewing Ather Energy's share sale as a litmus test for India's IPO market, where momentum has slowed down amid a broader market decline.
India's IPO market, the world's second-largest last year by proceeds, is down about 15% in 2025, as per LSEG data, with global market volatility and shifting U.S. tariffs forcing companies to rethink listings to avoid weak demand or failures.
Adding to the pain are recent market jitters over rising India-Pakistan tensions, which dampened investor appetite for the Ather IPO, said Aditya Kondawar, Partner & Vice President at Complete Circle Capital.
Meanwhile, analysts at brokerage Geojit said Ather's IPO "appeared expensive", but recommended it to high-risk investors seeking long-term gains, citing the company's "pioneer" status and robust research and development.
Ather was one of the first companies to sell e-scooters in India in 2018, but fell behind larger rivals Ola Electric OLAE.NS, TVS Motor TVSM.NS, and Bajaj Auto BAJA.NS, whose discounts and wider distribution networks have driven sales.
The company will use most of the 26.26 billion rupees it raises from the sale of new shares to build a third factory and for research and development.
($1 = 84.5040 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; Mobile: +91 9591011727;))
India's TVS Motor beats quarterly profit estimates on strong demand
April 28 (Reuters) - Indian automaker TVS Motor Company TVSM.NS reported a better-than-expected fourth-quarter profit on Monday, led by steady demand for its two-wheelers and continued growth in exports.
Profit rose 75.5% to 8.52 billion rupees ($100.2 million) in the quarter ending March 31, beating analysts' estimate of 7.47 billion rupees, per data compiled by LSEG.
Total two-wheeler sales of TVS grew 14% year-over-year in the third quarter, with motorcycles making up 47.8% of those sales.
Sales in India rose in the quarter, supported by new model launches and festival sales during Navratri, Gudi Padwa and Eid, the Federation of Automobile Dealers Association said in early April.
Exports, which make up nearly a fourth of the company's overall revenue, according to its latest annual report grew 31% in the reported quarter.
The company's earnings before interest, taxes, depreciation and amortization margin rose to 12.5% from 11.3% last year, helped by sale of more profitable vehicles, analysts noted.
Revenue from operations increased 16.9% to 95.5 billion rupees in the quarter, edging past analysts' estimates of 94.04 billion rupees for the company that also makes 'iQube' series of electric vehicles.
The 'Jupiter' scooter maker's total expenses grew 13.2%, led by a 13.8% growth in cost of materials consumed.
Rivals Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS are yet to report quarterly results.
Shares of TVS Motor rose as much as 4.1% after reporting results, before closing up at 2%.
($1 = 85.0300 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected]; +91 8921483410;))
April 28 (Reuters) - Indian automaker TVS Motor Company TVSM.NS reported a better-than-expected fourth-quarter profit on Monday, led by steady demand for its two-wheelers and continued growth in exports.
Profit rose 75.5% to 8.52 billion rupees ($100.2 million) in the quarter ending March 31, beating analysts' estimate of 7.47 billion rupees, per data compiled by LSEG.
Total two-wheeler sales of TVS grew 14% year-over-year in the third quarter, with motorcycles making up 47.8% of those sales.
Sales in India rose in the quarter, supported by new model launches and festival sales during Navratri, Gudi Padwa and Eid, the Federation of Automobile Dealers Association said in early April.
Exports, which make up nearly a fourth of the company's overall revenue, according to its latest annual report grew 31% in the reported quarter.
The company's earnings before interest, taxes, depreciation and amortization margin rose to 12.5% from 11.3% last year, helped by sale of more profitable vehicles, analysts noted.
Revenue from operations increased 16.9% to 95.5 billion rupees in the quarter, edging past analysts' estimates of 94.04 billion rupees for the company that also makes 'iQube' series of electric vehicles.
The 'Jupiter' scooter maker's total expenses grew 13.2%, led by a 13.8% growth in cost of materials consumed.
Rivals Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS are yet to report quarterly results.
Shares of TVS Motor rose as much as 4.1% after reporting results, before closing up at 2%.
($1 = 85.0300 Indian rupees)
(Reporting by Meenakshi Maidas in Bengaluru)
(([email protected]; +91 8921483410;))
India's Delhi plans to curb gasoline car sales, ban gas-guzzling bikes to shed polluter tag
Delhi to limit purchases of new fossil fuel cars to two per family
Proposes ban on petrol and diesel bike, scooter sales from April 2027
To provide tax waivers for hybrids, making them cheaper by 15%
Policy is subject to change based on feedback from stakeholders
By Aditi Shah
NEW DELHI, April 24 (Reuters) - India's capital New Delhi plans to limit gasoline and diesel-powered cars a family can buy as well as ban sales of fuel-guzzling motorbikes and scooters, according to a draft policy aimed at cleaning up one of the world's most polluted cities.
The measures represent one of the most drastic steps the city has lined up to tackle pollution, which often forces local authorities to ban some construction, shut schools and disrupt flights in the city of more than 30 million people during the winter season.
Under Delhi's new electric vehicle policy, the city government will also waive some local taxes on the purchase of hybrids, putting them on par with concessions given to EVs, while imposing a new levy of 0.5 rupees ($0.0059) on every litre of petrol sales, according to the 74-page draft seen by Reuters.
The primary objective "is to unlock the next phase of EV adoption, reduce air pollution and contribute to India's energy independence and net-zero targets," the draft stated.
Every year ahead of the onset of winter in Delhi, calm winds and low temperatures trap pollutants from sources including vehicles, industries and crop residue burning in nearby fields, raising the level of harmful toxins in the air.
Delhi launched the first phase of its EV policy in 2020 which helped boost the share of electric models to 12% of all new vehicle sales, including motorbikes and cars, in 2024.
Under the second phase, the policy document says, no new sales of gasoline, diesel and gas-based two-wheelers will be allowed from April 1, 2027. It is also providing a cash incentive of up to $350 on the purchase of electric bikes and scooters.
Officials at Delhi's transport ministry and the chief minister's office did not immediately respond to an email seeking comment.
LIFELINE FOR RESIDENTS
Two-wheelers are a lifeline for millions of Delhi residents, and the move could significantly impact Delhi's lower- and middle-income groups who depend on them, and not cars, to navigate the city's often congested roads.
In 2024, nearly 450,000 new two-wheeler scooters and motorbikes were sold in Delhi. There were 8 million vehicles on Delhi's roads in 2022-23, of which 67% were two-wheelers, according to central government figures.
A ban on the sale of fossil fuel two-wheelers from 2027 will hurt manufacturers such as Bajaj Motors BAJA.NS, TVS TVSM.NS and Hero MotoCorp HROM.NS, although some of the negative impact may be offset by increased sales of their electric two-wheelers.
And in a move aimed at the more affluent population, the policy is also set to limit the number of fossil fuel cars each household can purchase to two, as it aims for a 30% EV penetration by 2030, from around 2.7% last year.
"All private car owners in Delhi will be required to purchase only electric cars if they intend to own (a) third or subsequent car registered to the same residential address," the document stated.
The policy, which is expected to cost the Delhi government 28.6 billion rupees, is subject to change based on feedback from car makers and other stakeholders. It was not immediately clear when the policy will be finalised or how it will be funded.
The city government is also planning some tax waivers for hybrid vehicles to match the concessions to those given for EVs, potentially lowering their cost by up to 15%.
The move is in line with a similar move made by neighbouring state Uttar Pradesh. They are considered a win for the likes of Toyota Motor 7203.T and Maruti Suzuki MRTI.NS, but a setback for homegrown Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS who focus on EVs.
($1 = 85.3350 Indian rupees)
(Reporting by Aditi Shah; Editing by Muralikumar Anantharaman)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Delhi to limit purchases of new fossil fuel cars to two per family
Proposes ban on petrol and diesel bike, scooter sales from April 2027
To provide tax waivers for hybrids, making them cheaper by 15%
Policy is subject to change based on feedback from stakeholders
By Aditi Shah
NEW DELHI, April 24 (Reuters) - India's capital New Delhi plans to limit gasoline and diesel-powered cars a family can buy as well as ban sales of fuel-guzzling motorbikes and scooters, according to a draft policy aimed at cleaning up one of the world's most polluted cities.
The measures represent one of the most drastic steps the city has lined up to tackle pollution, which often forces local authorities to ban some construction, shut schools and disrupt flights in the city of more than 30 million people during the winter season.
Under Delhi's new electric vehicle policy, the city government will also waive some local taxes on the purchase of hybrids, putting them on par with concessions given to EVs, while imposing a new levy of 0.5 rupees ($0.0059) on every litre of petrol sales, according to the 74-page draft seen by Reuters.
The primary objective "is to unlock the next phase of EV adoption, reduce air pollution and contribute to India's energy independence and net-zero targets," the draft stated.
Every year ahead of the onset of winter in Delhi, calm winds and low temperatures trap pollutants from sources including vehicles, industries and crop residue burning in nearby fields, raising the level of harmful toxins in the air.
Delhi launched the first phase of its EV policy in 2020 which helped boost the share of electric models to 12% of all new vehicle sales, including motorbikes and cars, in 2024.
Under the second phase, the policy document says, no new sales of gasoline, diesel and gas-based two-wheelers will be allowed from April 1, 2027. It is also providing a cash incentive of up to $350 on the purchase of electric bikes and scooters.
Officials at Delhi's transport ministry and the chief minister's office did not immediately respond to an email seeking comment.
LIFELINE FOR RESIDENTS
Two-wheelers are a lifeline for millions of Delhi residents, and the move could significantly impact Delhi's lower- and middle-income groups who depend on them, and not cars, to navigate the city's often congested roads.
In 2024, nearly 450,000 new two-wheeler scooters and motorbikes were sold in Delhi. There were 8 million vehicles on Delhi's roads in 2022-23, of which 67% were two-wheelers, according to central government figures.
A ban on the sale of fossil fuel two-wheelers from 2027 will hurt manufacturers such as Bajaj Motors BAJA.NS, TVS TVSM.NS and Hero MotoCorp HROM.NS, although some of the negative impact may be offset by increased sales of their electric two-wheelers.
And in a move aimed at the more affluent population, the policy is also set to limit the number of fossil fuel cars each household can purchase to two, as it aims for a 30% EV penetration by 2030, from around 2.7% last year.
"All private car owners in Delhi will be required to purchase only electric cars if they intend to own (a) third or subsequent car registered to the same residential address," the document stated.
The policy, which is expected to cost the Delhi government 28.6 billion rupees, is subject to change based on feedback from car makers and other stakeholders. It was not immediately clear when the policy will be finalised or how it will be funded.
The city government is also planning some tax waivers for hybrid vehicles to match the concessions to those given for EVs, potentially lowering their cost by up to 15%.
The move is in line with a similar move made by neighbouring state Uttar Pradesh. They are considered a win for the likes of Toyota Motor 7203.T and Maruti Suzuki MRTI.NS, but a setback for homegrown Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS who focus on EVs.
($1 = 85.3350 Indian rupees)
(Reporting by Aditi Shah; Editing by Muralikumar Anantharaman)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
India's Hero MotoCorp, Bajaj Auto skid as Jefferies removes 'buy' on market share woes
April 22 - ** Two-wheeler makers Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS down 1.5% and 2.2%, respectively; TVS Motor TVSM.NS up 0.3%
** Jefferies cuts BAJA to 'hold' from 'buy' and HROM to 'underperform' from 'buy'; keeps 'buy' on TVS
** Says TVS's TVSM.NS market share is at 18-year high, Hero's at 20-year low and Bajaj has stagnated from 2019-2025
** Says demand has softened from post-pandemic spike, with checks suggesting high inventories and weak inquiries
** Cuts PT for Bajaj and Hero, implying downsides of 7.5% and ~16%, respectively
** Analysts on avg rate TVS and Bajaj the equivalent of 'buy', and Hero 'hold', per LSEG data
** Hero's shares have fallen 7.6% in last 12 months, while Bajaj has dropped ~11%; TVS, on the other hand, has surged 41%
(Reporting by Ananta Agarwal in Bengaluru)
April 22 - ** Two-wheeler makers Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS down 1.5% and 2.2%, respectively; TVS Motor TVSM.NS up 0.3%
** Jefferies cuts BAJA to 'hold' from 'buy' and HROM to 'underperform' from 'buy'; keeps 'buy' on TVS
** Says TVS's TVSM.NS market share is at 18-year high, Hero's at 20-year low and Bajaj has stagnated from 2019-2025
** Says demand has softened from post-pandemic spike, with checks suggesting high inventories and weak inquiries
** Cuts PT for Bajaj and Hero, implying downsides of 7.5% and ~16%, respectively
** Analysts on avg rate TVS and Bajaj the equivalent of 'buy', and Hero 'hold', per LSEG data
** Hero's shares have fallen 7.6% in last 12 months, while Bajaj has dropped ~11%; TVS, on the other hand, has surged 41%
(Reporting by Ananta Agarwal in Bengaluru)
MEDIA-EV maker Ather is said to consider smaller IPO amid market chaos- Bloomberg News
-- Source link: https://tinyurl.com/4des9zwu
-- Note: Reuters has not verified this story and does not vouch for its accuracy
((Bengaluru newsroom, [email protected]))
-- Source link: https://tinyurl.com/4des9zwu
-- Note: Reuters has not verified this story and does not vouch for its accuracy
((Bengaluru newsroom, [email protected]))
Hero Motocorp Gets Additional Tax Demand Of 55 Mln Rupees
April 3 (Reuters) - Hero MotoCorp Ltd HROM.NS:
GETS ADDITIONAL TAX DEMAND OF 55 MILLION RUPEES
Source text: ID:nBSE6g1Glp
Further company coverage: HROM.NS
(([email protected];;))
April 3 (Reuters) - Hero MotoCorp Ltd HROM.NS:
GETS ADDITIONAL TAX DEMAND OF 55 MILLION RUPEES
Source text: ID:nBSE6g1Glp
Further company coverage: HROM.NS
(([email protected];;))
Hero Motocorp States Report "Hero Motors, Schmiedetechnik Form JV" Not Related To Co
March 20 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP - CLARIFIES NO RELATION TO HERO MOTORS
HERO MOTOCORP - STATES REPORT "HERO MOTORS, SCHMIEDETECHNIK FORM JV" NOT RELATED TO CO
Source text: ID:nBSE3d1FXw
Further company coverage: HROM.NS
(([email protected];))
March 20 (Reuters) - Hero MotoCorp Ltd HROM.NS:
HERO MOTOCORP - CLARIFIES NO RELATION TO HERO MOTORS
HERO MOTOCORP - STATES REPORT "HERO MOTORS, SCHMIEDETECHNIK FORM JV" NOT RELATED TO CO
Source text: ID:nBSE3d1FXw
Further company coverage: HROM.NS
(([email protected];))
India Auto Industry Body Says Upcoming Festivities In March Likely To Continue To Drive Demand
March 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:
INDIA'S FEB 2-WHEELER SALES 13,84,605 UNITS - INDUSTRY BODY
INDIA'S FEB 3-WHEELER SALES 57,788 UNITS - INDUSTRY BODY
INDIA'S FEB TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,77,689 UNITS - INDUSTRY BODY
INDIA AUTO INDUSTRY BODY: UPCOMING FESTIVITIES OF HOLI, UGADI IN MARCH LIKELY TO CONTINUE TO DRIVE DEMAND
Further company coverage: ASOK.NS
(([email protected];))
March 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:
INDIA'S FEB 2-WHEELER SALES 13,84,605 UNITS - INDUSTRY BODY
INDIA'S FEB 3-WHEELER SALES 57,788 UNITS - INDUSTRY BODY
INDIA'S FEB TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,77,689 UNITS - INDUSTRY BODY
INDIA AUTO INDUSTRY BODY: UPCOMING FESTIVITIES OF HOLI, UGADI IN MARCH LIKELY TO CONTINUE TO DRIVE DEMAND
Further company coverage: ASOK.NS
(([email protected];))
India's Hero MotoCorp rises on Q3 profit beat
** Hero MotoCorp HROM.NS gains as much as 2.1% to 4,319.95 rupees in early trade, last up ~1%
** HROM's Q3 profit beat estimates on higher sales of mid-level models such as the "Xtreme 125R"
** India's top motorcycle maker by volumes declares dividend of 100 rupees ($1.14)/share
** Rivals TVS Motor TVSM.NS, Bajaj Auto BAJA.NS reported profit misses, but analysts cheered exports, margin outlook
** HROM, TVSM, BAJA rated "buy" on avg - LSEG
** HROM down 2.5% so far this week
($1 = 87.4710 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Hero MotoCorp HROM.NS gains as much as 2.1% to 4,319.95 rupees in early trade, last up ~1%
** HROM's Q3 profit beat estimates on higher sales of mid-level models such as the "Xtreme 125R"
** India's top motorcycle maker by volumes declares dividend of 100 rupees ($1.14)/share
** Rivals TVS Motor TVSM.NS, Bajaj Auto BAJA.NS reported profit misses, but analysts cheered exports, margin outlook
** HROM, TVSM, BAJA rated "buy" on avg - LSEG
** HROM down 2.5% so far this week
($1 = 87.4710 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
India's Hero MotoCorp tops profit view on higher mid-level motorcycle sales
Adds details, background from paragraph 3
Feb 6 (Reuters) - Hero MotoCorp HROM.NS, India's top motorcycle maker by volumes, reported a bigger-than-expected rise in third-quarter profit on Thursday, helped by higher sales of its mid-level models such as the 'Xtreme 125R'.
The company's profit increased 12% to 12.03 billion rupees ($137.4 million) in the three months to December 31, topping analysts' average estimate of 11.25 billion rupees, according to data compiled by LSEG.
Hero's motorcycle and scooter sales grew just 0.3% in the quarter, marking their weakest growth since July-September 2022. That dragged revenue growth down to 5% from 11% in the previous quarter.
However, sales of its more profitable 125cc motorcycles, such as the 'Xtreme 125R', jumped 53%, which helped it offset weak sales of entry-level motorcycles such as 'Splendor' and also helped bolster margins, analysts have said.
Entry-level motorcycles account for three-fourths of Hero's overall sales.
The company's main rivals TVS Motor TVSM.NS and Bajaj Auto BAJA.NS both missed profit estimates for the quarter. However, their margin and export growth were well received by the market.
Industry-wide domestic two-wheeler sales, however, slowed to a 3% increase in the previous quarter from a 16% jump in the two quarters before that.
Last week, Hero said CEO Niranjan Gupta would step down effective April 30, and also said it would hive off its electric vehicle business into a separate unit.
Hero's shares closed down about 1% before reporting results. The company on Thursday also declared a dividend of 100 rupees a share.
($1 = 87.5880 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'souza, Sonia Cheema and Mrigank Dhaniwala)
(([email protected]; Mobile: +91 9591011727;))
Adds details, background from paragraph 3
Feb 6 (Reuters) - Hero MotoCorp HROM.NS, India's top motorcycle maker by volumes, reported a bigger-than-expected rise in third-quarter profit on Thursday, helped by higher sales of its mid-level models such as the 'Xtreme 125R'.
The company's profit increased 12% to 12.03 billion rupees ($137.4 million) in the three months to December 31, topping analysts' average estimate of 11.25 billion rupees, according to data compiled by LSEG.
Hero's motorcycle and scooter sales grew just 0.3% in the quarter, marking their weakest growth since July-September 2022. That dragged revenue growth down to 5% from 11% in the previous quarter.
However, sales of its more profitable 125cc motorcycles, such as the 'Xtreme 125R', jumped 53%, which helped it offset weak sales of entry-level motorcycles such as 'Splendor' and also helped bolster margins, analysts have said.
Entry-level motorcycles account for three-fourths of Hero's overall sales.
The company's main rivals TVS Motor TVSM.NS and Bajaj Auto BAJA.NS both missed profit estimates for the quarter. However, their margin and export growth were well received by the market.
Industry-wide domestic two-wheeler sales, however, slowed to a 3% increase in the previous quarter from a 16% jump in the two quarters before that.
Last week, Hero said CEO Niranjan Gupta would step down effective April 30, and also said it would hive off its electric vehicle business into a separate unit.
Hero's shares closed down about 1% before reporting results. The company on Thursday also declared a dividend of 100 rupees a share.
($1 = 87.5880 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'souza, Sonia Cheema and Mrigank Dhaniwala)
(([email protected]; Mobile: +91 9591011727;))
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What does Hero MotoCorp do?
Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The company is a leading two-wheeler manufacturer and has a dominant presence in domestic market. The company has been a transformative force in the global two-wheeler industry, enabling personal mobility at scale while redefining value, trust, and innovation.
Who are the competitors of Hero MotoCorp?
Hero MotoCorp major competitors are TVS Motor, Eicher Motors, Wardwizard Innovat., Bajaj Auto. Market Cap of Hero MotoCorp is ₹1,09,524 Crs. While the median market cap of its peers are ₹1,77,783 Crs.
Is Hero MotoCorp financially stable compared to its competitors?
Hero MotoCorp seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Hero MotoCorp pay decent dividends?
The company seems to pay a good stable dividend. Hero MotoCorp latest dividend payout ratio is 75.37% and 3yr average dividend payout ratio is 73.74%
How has Hero MotoCorp allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments, Accounts Receivable
How strong is Hero MotoCorp balance sheet?
Balance sheet of Hero MotoCorp is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Hero MotoCorp improving?
Yes, profit is increasing. The profit of Hero MotoCorp is ₹4,527 Crs for TTM, ₹4,378 Crs for Mar 2025 and ₹3,745 Crs for Mar 2024.
Is the debt of Hero MotoCorp increasing or decreasing?
Yes, The net debt of Hero MotoCorp is increasing. Latest net debt of Hero MotoCorp is -₹691.3 Crs as of Mar-25. This is greater than Mar-24 when it was -₹1,029.41 Crs.
Is Hero MotoCorp stock expensive?
Yes, Hero MotoCorp is expensive. Latest PE of Hero MotoCorp is 21.74, while 3 year average PE is 21.32. Also latest EV/EBITDA of Hero MotoCorp is 18.55 while 3yr average is 15.04.
Has the share price of Hero MotoCorp grown faster than its competition?
Hero MotoCorp has given lower returns compared to its competitors. Hero MotoCorp has grown at ~8.54% over the last 10yrs while peers have grown at a median rate of 14.0%
Is the promoter bullish about Hero MotoCorp?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Hero MotoCorp is 34.74% and last quarter promoter holding is 34.74%.
Are mutual funds buying/selling Hero MotoCorp?
The mutual fund holding of Hero MotoCorp is decreasing. The current mutual fund holding in Hero MotoCorp is 15.52% while previous quarter holding is 16.27%.