HEROMOTOCO

Feb 13 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JAN TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,49,616 UNITS

• SIAM - INDIA'S JAN 2-WHEELER SALES 19,25,603 UNITS

• SIAM - INDIA'S JAN 3-WHEELER SALES 75,725 UNITS

• SIAM: NEW BUDGET INITIATIVES, POLICY TAILWINDS EXPECTED TO DELIVER LONG-TERM BENEFITS, SUPPORT GROWTH IN MEDIUM TERM

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** Shares of Hero MotoCorp HROM.NS down 1% at 5788.50 rupees so far on the day

** Analysts on avg expect India's top two-wheeler maker by sales to report a 14.5% y/y increase in Q3 profit to 13.78 billion rupees ($152.69 million) -- data compiled by LSEG

** Co beat Q2 profit estimates on the back of demand fueled by domestic tax cuts as well as strong exports

** Stock rated "hold" on avg by 33 analysts, median PT: 6300 rupees; rival TVS Motor TVSM.NS rated "buy" on avg, median PT: 4200 rupees -- LSEG data

** HROM gained about 39% in 2025 and is up 1.4% YTD, while TVSM rose 57% last year and has traded largely flat this year

($1 = 90.2510 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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Jan 20 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• GETS TAX DEMAND OF 49.7 MILLION RUPEES WITH PENALTY AND INTEREST

Source text: ID:nBSE24y14f

Further company coverage: HROM.NS

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Jan 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,99,216 UNITS

• SIAM - LOOKING AHEAD, INDUSTRY EXPECTS POSITIVE MOMENTUM TO CONTINUE WELL INTO 2026

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 3-WHEELER SALES 61,924 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 2-WHEELER SALES 15,41,036 UNITS

• SIAM - WHILE REMAINING WATCHFUL OF GEOPOLITICAL DEVELOPMENTS, INDUSTRY EXPECTS FY2025–26 TO CLOSE ON POSITIVE GROWTH TRAJECTORY

Source text: [ID:]

Further company coverage: ASOK.NS

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Jan 8 (Reuters) - Valeo SE VLOF.PA:

• VALEO AND HERO MOTOCORP ANNOUNCE PARTNERSHIP

Source text: https://tinyurl.com/zh45b2x4

Further company coverage: VLOF.PA

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Jan 6 (Reuters) - INDIA AUTODEALERS BODY FADA:

• DEC’25 AUTO RETAIL AT 20,28,821 UNITS

• DEALER SENTIMENT REMAINS FIRMLY POSITIVE, WITH OUR SURVEY INDICATING 70.48% EXPECTING GROWTH

• OVER NEXT 3 MONTHS, RETAIL OUTLOOK REMAINS DECISIVELY UPBEAT

• DEC’25 AUTO RETAIL UP 14.63% YOY

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Jan 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• REPORTS 40% Y/Y GROWTH IN DECEMBER DISPATCHES

Source text: ID:nBSE1dlv6F

Further company coverage: HROM.NS

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** Two-wheeler maker Hero MotoCorp's HROM.NS shares rise as much as 2.37% to 6,016 rupees, a 14-month high

** Stock advances after Macquarie upgrades it to "outperform" from "neutral," citing a likely uptick in both motorcycles and scooters driven by GST cuts and new launches

** Macquarie also lifts its price target to 6,793 rupees from 6,094, implying a 16.7% upside

** Brokerage says Hero's ICE motorcycle market share is stabilising while new scooters are gaining strong traction

** The upgrade follows J.P. Morgan's move on Wednesday to raise the stock to "overweight" from "neutral", flagging stabilising market share, an improving earnings outlook, tax cuts and rising EV penetration

** J.P. Morgan also increases its target to 6,850 rupees from 5,640 rupees

** Hero MotoCorp is up 3.5% in two sessions and has gained 9.1% in five sessions after a September-quarter profit beat

** The stock is up 41.2% in 2025, outperforming the auto index's .NIFTYAUTO 20.6% rise

(Reporting by Bharath Rajeswaran in Bengaluru)

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** India's Hero Motocorp HERO.NS rises 3.55% to 5,735 rupees

** Analysts praise Q2 margin expansion but some voice caution on sustainability of results

** EBITDA margin grew 55 basis points y/y to 15%

** Motilal Oswal says, it expects co to deliver a volume CAGR of ~6% over FY26-28, driven by new launches and a ramp-up in exports

** Nirmal Bang says HERO outperformed industry during the festive season, gaining 40 bps market share

** Adds, sustained volume growth, rising premium mix and expanding EV portfolio to strengthen co's leadership in two-wheelers

** However, Antique Stock Broking says stock's recent rally has priced in near-term optimism

** Brokerage says awaiting clearer evidence of sustained EV profitability before upgrading stock to 'accumulate' from 'hold'

** Ambit says recent uptick in first-time buyers, market share gains in EV segment and export momentum may not be sustainable

** HERO rated 'hold' on avg by 31 analysts; median PT at 5,823.5 rupees- data compiled by LSEG

** YTD, stock up ~38%

(Reporting by Ananta Agarwal in Bengaluru)

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Nov 13 (Reuters) - Hero MotoCorp HROM.NS, India's top two-wheeler maker by sales, reported a better-than-expected quarterly profit on Thursday, on the back of demand fueled by domestic tax cuts as well as strong exports.

The maker of the Splendor motorcycle posted a 15.7% rise in quarterly profit to 13.93 billion rupees ($158.5 million) in the July-September quarter, topping analysts' estimates of 13.78 billion rupees, according to data compiled by LSEG.

With global forays and a push into electric mobility, Hero is positioning for sustained growth in overseas markets and emerging segments.

Hero has partnered with distributors in Europe to expand its overseas shipments. In October, it partnered with UK-based distributor MotoGB and French distributor GD France after announcing it will begin to sell its products in Italy and Spain.

Sales for the three months ended September 30 rose 11.25% to 1.69 million vehicles, driven by a 77% rise in exports.

Domestic sales were also boosted by lower tax on motorcycles of engine capacities up to 350cc which are the bulk of Hero's sales.

September's domestic sales climbed about 25% from the previous month to 647,582 units, buoyed by festive-season demand and strong momentum in the entry-level, deluxe and scooter categories.

The two-wheeler maker's revenue rose about 16% to 121.26 billion rupees, while its total expenses increased about 15%.

Hero's earnings before interest, taxes, depreciation and amortisation margin grew by 55 basis points year-on-year to 15% during the quarter.

Analysts anticipated the margin to improve, mainly by stronger operating leverage, though partly offset by higher launch-related costs following the introduction of three new models in the reported quarter.

Rivals Bajaj Auto BAJA.NS and TVS Motor TVSM.NS also posted an export-driven profit rise in the reported quarter.

($1 = 87.8950 Indian rupees)

(Reporting by Urvi Dugar and Anuran Sadhu in Bengaluru; Editing by Krishna Chandra Eluri)

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Nov 6 (Reuters) - India's Amara Raja Energy and Mobility AMAR.NS reported a bigger-than-expected rise in second-quarter profit on Thursday, driven by increased demand from automotive manufacturers following India's tax reforms.

The company, which makes Amaron-branded car batteries, reported profit rose 25.6% to 3.02 billion rupees ($34.36 million) in the quarter ended September.

Analysts, on average, expected 2.12 billion rupees, according to data compiled by LSEG.

India announced tax cuts on hundreds of consumer items in September, ranging from soaps to small cars to spur domestic demand. As a result, Indian dealers' passenger vehicles and two-wheeler sales to customers recorded upbeat growth towards the end of the quarter.

Analysts noted that battery demand from original equipment manufacturers (OEMs) had risen following recent reductions in consumption tax.

Amara Raja, which counts top automakers, including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS, Maruti Suzuki MRTI.NS as its clients, derives around 70% of its revenue from the automotive battery business.

The Hyderabad-based company's revenue from operations climbed 8% to 33.88 billion rupees.

The company, which also makes industrial batteries for sectors such as telecommunications and railways, said cost of materials consumed grew 11.8% in the quarter, pushing total expenses up by 10.5% to 31.29 billion rupees.

Analysts also noted that the company was affected by higher power costs.

Rival Exide Industries EXID.NS is yet to report its quarterly results.

($1 = 87.8950 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Janane Venkatraman)

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** Hero MotoCorp HROM.NS falls 3.2% to 5,365 rupees; top pct loser on Nifty auto index .NIFTYAUTO, which is down 0.5%

** Two-wheeler maker's total October sales down 6.4% y/y due to 8% y/y drop in domestic sales; exports up ~43% y/y

** Rival Bajaj Auto BAJA.NS logs 4% y/y rise in October 2-wheeler sales

** Morgan Stanley says its volume estimates for Hero MotoCorp imply 16% y/y growth for rest of FY26

** HROM and BAJA both rated "hold" on average, per data compiled by LSEG

** YTD, HROM up ~33%

(Reporting by Yagnoseni Das in Bengaluru)

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Oct 13 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• ANNOUNCES ENTRY INTO ITALY

• PELPI INTERNATIONAL TO MANAGE HERO MOTOCORP DISTRIBUTION IN ITALY

Source text: ID:nBSE1xNzrl

Further company coverage: HROM.NS

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Adds details paragraph 2 onwards

Oct 7 (Reuters) - Indian dealers' auto sales grew 5.2% year-on-year in September, with upbeat growth across two-wheelers and passenger vehicles, as tax cuts boosted demand during the festive season, the Federation of Automobile Dealers Associations said on Tuesday.

While sales were muted in the first three weeks of September, they surged after September 22, when the revised goods and services tax rates took effect, the auto dealers association said.

Two-wheeler sales climbed 6.5% from a year earlier, while passenger vehicle sales grew 5.8%.

Dealers posted record high sales during the nine-day Navratri festival, the association said, with a 34% year-on-year jump during the period, as a wave of new customers entered showrooms and existing ones upgraded their vehicles, taking advantage of lower taxes and festive schemes.

The auto dealers body expects an above-normal monsoon, strong harvest, and steady lending rates to boost purchasing power of consumers, driving demand.

It also expects "peak sales" during the Diwali festival in October, when Indians typically tend to make high-value purchases.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala and Ronojoy Mazumdar)

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Adds details and background paragraph 3 onwards

Aug 22 (Reuters) - India's National Stock Exchange (NSE) said on Friday it will add hospital-chain operator Max Healthcare Institute MAXE.NS and Indigo-parent InterGlobe Aviation INGL.NS to its 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.

NSE's semi-annual index reshuffle is based on stocks' average free-float market capitalization over six-month periods ending January 31 and July 31, with the changes implemented in March and September, respectively.

Changes to the Nifty 50 usually lead to reshuffling of exchange traded funds linked to the benchmark index, which could result in several million dollars worth of inflows and outflows for the stocks that are rejigged.

Addition to the index could bring in $400 million for Max Healthcare, according to an estimate from brokerage firm Nuvama in July.

For the year through July-end, shares of Max and InterGlobe rose 9.34% and 28.61%, respectively, while those of IndusInd fell 17.59%. Hero's stock was up 1.82%.

InterGlobe shares hit a record high earlier this week after Jefferies said it expected the airline's market share gains to sustain across domestic and international segments.

Meanwhile, IndusInd Bank took a $230 million hit in the year ended March 31 due to misaccounting in internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.

(Reporting by Hritam Mukherjee and Urvi Dugar in Bengaluru; Editing by Leroy Leo)

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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)

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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.

(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)

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** 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)

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Aug 7 (Reuters) - India's upcoming festive season is expected to lift near-term sentiment among auto dealers, but U.S. tariffs could dent consumer confidence, prompting higher household savings and weighing on discretionary spending, including vehicles, the Federation of Automobile Dealers Association (FADA) said on Thursday.

Vehicle dealers expect major festivals, including Rakhi, Janmashtami, Independence Day and Ganesh Chaturthi, along with targeted promotional schemes and healthy stock levels to drive sales.

However, the anticipated wealth erosion from fresh tariffs by the U.S. could erode consumer confidence, trigger a precautionary rise in household savings and exert pressure on discretionary spending, including on vehicles, FADA said.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Sonia Cheema)

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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

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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)

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Aug 4 (Reuters) - India's Ather Energy ATHR.NS reported a narrower first-quarter loss on Monday, helped by higher demand for its e-scooters, particularly the best-selling "Rizta".

The company, founded in 2013, said its loss narrowed to 1.78 billion rupees ($20.31 million) for the quarter ended June 30 from 1.83 billion rupees a year ago.

($1 = 87.6320 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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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

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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

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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

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July 1 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• JUNE TOTAL SALES 553,963 UNITS

Source text: ID:nnAZN42P31Z

Further company coverage: HROM.NS

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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

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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)

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