Hero MotoCorp shares shed early gains; settle marginally higher

"Despite the severe disruptions on account of the COVID-19 this year, the good retail off-take during the 32-day festival period - spread between the first day of Navratra and the concluding day after Bhai Duj – was 98 per cent of the festive season volumes sold by the company in the previous year (2019) and 103 per cent compared to the same period in 2018," as per the filing.

Shedding early gains, shares of Hero MotoCorp Ltd on Thursday closed marginally higher on the bourses after the company reported good sales during the festive period. On the BSE, the scrip settled at Rs 2,988.45, higher 0.18 per cent. During intra-day trade, it had jumped 5.11 per cent to Rs 3,135.55.

Similarly, the shares rose 0.22 per cent to close at Rs 2,989.6 apiece on the NSE. During the day, it had climbed 5.15 per cent to an intra-day high of Rs 3,136.75. Over 44 lakh shares were traded on the exchanges during the trading session.

In a regulatory filing on Wednesday, the firm said it sold more than 14 lakh units of motorcycles and scooters during the just concluded festive season. "Despite the severe disruptions on account of the COVID-19 this year, the good retail off-take during the 32-day festival period - spread between the first day of Navratra and the concluding day after Bhai Duj – was 98 per cent of the festive season volumes sold by the company in the previous year (2019) and 103 per cent compared to the same period in 2018," as per the filing.