HEROMOTOCO

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;))

** 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 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)

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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

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** 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)

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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)

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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)

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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))

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)

(([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]))

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 Ltd HROM.NS:

• HERO MOTOCORP LTD - APPROVES STRATEGIC INVESTMENT OF UP TO 5.25 BILLION RUPEES IN EULER MOTORS

• HERO MOTOCORP - HERO MOTOCORP DIVERSIFIES INTO ELECTRIC THREE- WHEELER CATEGORY

• HERO MOTOCORP LTD - TO ACQUIRE 32.5% STAKE IN EULER MOTORS

• HERO MOTOCORP LTD - ACQUISITION EXPECTED TO COMPLETE BY APRIL 30, 2025

Source text: ID:nBSE8XwPNh

Further company coverage: HROM.NS

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];))

** 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;))

** Shares of Hero MotoCorp Ltd HROM.NS drop 0.8% ahead of third-quarter earnings later in the day

** Analysts on avg expect HROM to report 4.8% profit growth, which would be its slowest in 2 years - data compiled by LSEG

** Q3 profit seen at 11.25 billion rupees ($128 million), rev at 101.4 billion rupees

** In Oct-Dec qtr, HROM's overall volumes grew just 0.7%, slowest rise since Jul-Sep quarter of FY22

** Rivals TVS Motor TVSM.NS, Bajaj Auto BAJA.NS reported profit misses, but analysts cheered exports, margin outlook

** All three stocks rated "buy" on avg

** HROM down 8% since its previous earnings report mid-Nov

($1 = 87.5610 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Feb 4 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• TAX DEPARTMENT IMPOSES 4.56 BILLION RUPEES PENALTY ON HERO MOTOCORP

Source text: ID:nBSE9GnBp0

Further company coverage: HROM.NS

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Jan 31 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• VIKRAM KASBEKAR APPOINTED ACTING CEO EFFECTIVE MAY 1, 2025

• NIRANJAN GUPTA STEPS DOWN AS CEO EFFECTIVE APRIL 30, 2025

• EV & EMERGING MOBILITY BUSINESS UNIT TO OPERATE INDEPENDENTLY FROM FEBRUARY 1, 2025

Source text: ID:nBSE52scQ3

Further company coverage: HROM.NS

(([email protected];;))

Jan 14 (Reuters) -

• INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,14,934 UNITS - INDUSTRY BODY

• INDIA'S DEC 2-WHEELER SALES 11,05,565 UNITS - INDUSTRY BODY

• INDIA'S DEC 3-WHEELER SALES 52,733 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 42,74,793 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 2-WHEELER SALES 1,95,43,093 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 3-WHEELER SALES 7,28,670 UNITS - INDUSTRY BODY

(([email protected];))

** Shares of Hero MotoCorp HROM.NS fall 1.7% to 4,236.35 rupees, top loser in the Nifty 50 index .NSEI

** Two‐wheeler maker's total sale for December fell 17.5% y/y due to 22.1% y/y drop in domestic sales

** Sales of motorcycles were down 15.8% y/y, scooter sales fell 32.8% y/y

** Competitor Bajaj Auto's BAJA.NS Dec total 2‐wheeler sales fell 4% y/y, while TVS Motor TVSM.NS saw an 8% y/y rise

** Brokerage BofA says domestic 2-wheeler demand hurt by receding pent up demand post solid festive season and weaker-than-expected wedding season demand

** Stock rose only 1% in 2024 vs 51% gains in 2023

(Reporting by Vijay Malkar)

(([email protected];))

Jan 2 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• SALES EXCEED 5.9 MILLION UNITS IN 2024

• DEC SALES AT 324,906 UNITS

Source text: ID:nBSEYYhbT

Further company coverage: HROM.NS

(([email protected];))

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

• GETS ADDITIONAL TAX DEMAND OF 264 MILLION RUPEES

Source text: ID:nBSEz2DYl

Further company coverage: HROM.NS

(([email protected];))

Dec 27 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• COMPANY HAS EXTENDED ITS PARTNERSHIP WITH HARLEY-DAVIDSON MOTOR COMPANY

• EXTENDED ITS PARTNERSHIP WITH HARLEY-DAVIDSON MOTOR

• TO EXPAND HARLEY-DAVIDSON X440 INTO NEW VARIANTS, TO DEVELOP NEW MOTORCYCLE

Source text: ID:nBSE1ZHlN9

Further company coverage: HROM.NS

(([email protected];))

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

• INDIA'S NOV TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,47,522 UNITS - INDUSTRY BODY

• INDIA'S NOV 2-WHEELER SALES 16,04,749 UNITS - INDUSTRY BODY

• INDIA'S NOV 3-WHEELER SALES 59,350 UNITS - INDUSTRY BODY

Source text: [ID:]

Further company coverage: ASOK.NS

(([email protected];))

Dec 4 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• HERO MOTOCORP - INTRODUCES V2 SERIES OF ELECTRIC SCOOTERS

• HERO MOTOCORP LTD - LAUNCHES VIDA V2 PRO, PLUS, AND LITE WITH ADVANCED FEATURES

• HERO MOTOCORP LTD - VIDA V2 ENTERS MASS SEGMENT WITH SUB 100,000 RUPEES PRICE

Source text: [ID:]

Further company coverage: HROM.NS

(([email protected];))

** Shares of Hero MotoCorp HROM.NS climb 5% to 4,835 rupees

** Two-wheeler maker beats Q2 profit, rev estimates on higher sales of mid-range motorcycles

** Rural improvement is a key catalyst, Nomura says, adding HROM's margins "have room for improvement"

** Success in premium bikes and EVs a positive for HROM, even though market share decline in 2Ws and adverse demand profile are concerns, says Jefferies

** Rivals TVS Motor TVSM.NS and Bajaj Auto BAJA.NS also reported strong Q2 results

** Avg rating on HROM at "buy", while TVSM and BAJA rated "hold" - LSEG data

** HROM's ~12% YTD climb lowest vs 18% gain in TVSM and BAJA's 39.5% rise

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Nov 15 (Reuters) - India's festive period auto sales by dealers to customers grew about 12%, led by two-wheeler sales on the back of strong rural demand, data from a dealers' body showed on Friday.

The Federation of Automobile Dealers Association (FADA) said festive period sales from Oct. 3 to Nov. 13 came in at about 4.3 million units, compared to last year's 3.8 million units.

Indians generally make big-ticket purchases on items like vehicles during the festive season, which kicked off on Oct. 3 this year.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Abinaya Vijayaraghavan)

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Nov 14 (Reuters) - India's top two-wheeler maker, Hero MotoCorp HROM.NS, reported second-quarter profit above estimates on Thursday, helped by higher sales of its mid-range motorcycles.

The company's standalone profit came in at 12.04 billion rupees ($142.6 million) for the three months ended Sept. 30, up 14% from the year earlier.

Analysts were expecting a profit of 11.54 billion rupees, according to data compiled by LSEG.

($1 = 84.4280 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shilpi Majumdar)

(([email protected]; Mobile: +91 9591011727;))

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

• INDIA'S OCT TOTAL DOMESTIC PASSENGER VEHICLE SALES 393,238 UNITS - INDUSTRY BODY

• INDIA'S OCT 2-WHEELER SALES 2,164,276 UNITS - INDUSTRY BODY

• INDIA'S OCT 3-WHEELER SALES 76,770 UNITS - INDUSTRY BODY

Further company coverage: ASOK.NS

(([email protected];))

Nov 5 (Reuters) - Hero MotoCorp Ltd HROM.NS:

• HERO MOTOCORP - OUTLINES EXPANSION PLANS FOR EUROPE AND UK

• HERO MOTOCORP - WILL BE ENTERING EUROPE , UK MARKETS WITH ELECTRIC SCOOTER - VIDA Z

• HERO MOTOCORP - PLANS TO EXPAND ITS RANGE TO HIGH CAPACITY PREMIUM ICE MOTORCYCLES IN EUROPE, UK

• HERO MOTOCORP - ANNOUNCED APPOINTMENT OF DISTRIBUTORS IN ITALY - PELPI INTERNATIONAL S.R.L.

Source text: ID:nBSE1B3B7T

Further company coverage: HROM.NS

(([email protected];))

Nov 4(Reuters) - Indian battery maker Amara Raja Energy & Mobility AMAR.NS reported a 6.3% rise in second-quarter profit on Monday, aided by continued demand from automotive manufacturers.

The company's net profit rose to 2.41 billion rupees ($28.7 million) for the quarter ended Sept. 30, from 2.26 billion rupees a year earlier.

However, this is its slowest quarterly profit growth in a year as car manufactures moderated dispatches to dealers to help reduce high inventory during the quarter.

This also resulted in rival Exide Industries EXID.NS reporting a smaller-than-expected profit earlier in the day.

India's total vehicle production increased 9% in the September quarter, but slowed down sequentially from 16.1% in the first quarter, according to Society of Indian Automobile Manufacturers (SIAM), an industry body.

Amara Raja, which derives almost three-fourths of its revenue from its automotive battery business, counts top automakers including Bajaj Auto BAJA.NS, Hero MotoCorp HROM.NS and Maruti Suzuki MRTI.NS among its clients.

While Amara Raja's revenue from operations increased 11.6% to 31.36 billion rupees during the July-September period, this is its slowest growth since the December quarter.

Analysts say that the growth was driven by the company's aftermarket division - which includes replacing original equipment batteries - and a rise in its two-wheeler battery division.

Amara Raja's shares closed 2.2% lower ahead of its results. They have risen 68.4% so far this year, while those of Exide Industries EXID.NS jumped 40%.

($1 = 84.0840 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia Cheema)

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