Hero MotoCorp shares erase early gains; close flat

On the NSE, it closed at Rs 3,115, a decline of 0.08 per cent after gaining 1.28 per cent to Rs 3,157.50 during the day.The two-wheeler market leader on Wednesday said it will increase prices of its vehicles by up to Rs 1,500 from January 1, 2021, to offset impact of rising input costs.

Shares of Hero MotoCorp on Thursday erased all its early gains and closed the day on a flat note. In the morning trade, it had gained over 1 per cent after the company said it will increase prices of its vehicles from January 1, 2021, to offset impact of rising input costs.

The stock, which went up by 1.22 per cent to Rs 3,156 during the day on the BSE, later wiped out the gains during the last trading hour and closed at Rs 3,112.05, down 0.19 per cent. On the NSE, it closed at Rs 3,115, a decline of 0.08 per cent after gaining 1.28 per cent to Rs 3,157.50 during the day.

The two-wheeler market leader on Wednesday said it will increase prices of its vehicles by up to Rs 1,500 from January 1, 2021, to offset impact of rising input costs. There has been a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals, the company said in a statement.

''In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by up to Rs 1,500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course,'' it said..