Hero MotoCorp Erases Monday’s Gains

Hero MotoCorp saw a downward trend since morning hours on Tuesday. It was the top Nifty and Sensex loser. The stock is witnessing a high volume and top turnover. The traded volume of the stock stands at 2,23,140 shares on NSE and the total traded value stood at Rs 83.44 crore as of 1126 hours on Tuesday.

The stock has lost almost all the gains of Monday. It has witnessed a spurt in volume by more than 98.38 times. Its open interest witnessed an increase of 28% and the share price has lost nearly 2%, witnessing short built up position.

The company on June 3 had announced record sales performance for the first quarter of the financial year (FY18).

Registering strong sales, the company sold 18,49,375 units in first three months (April 2017 – June 2017) of this fiscal - the highest-ever sales by Hero MotoCorp in any quarter. The company’s previous highest quarterly sales was in the second quarter (July-September) of FY16-17, when it sold 18.23 lakhs units. 

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About Suhani Varma

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