Hero MotoCorp shares climb over 3 pc

Shares of Hero MotoCorp on Friday jumped over 3 per cent after the company said its wholesales increased 7 per cent year-on-year to 5,19,474 units in May.

The stock climbed 3.25 per cent to settle at Rs 2,891.95 on the BSE. During the day, it rallied 3.95 per cent to Rs 2,911.65.

At the NSE, it gained 3.09 per cent to finish at Rs 2,887.

The company's market valuation climbed Rs 1,819.11 crore to Rs 57,793.21 crore.

The two-wheeler maker had dispatched 4,86,704 units to dealers in the year-ago period.

Domestic sales stood at 5,08,309 units last month compared to 4,66,466 units in May 2022.

Exports, however, declined to 11,165 units from 20,238 units in the year-ago period.

''The momentum is expected to continue in the coming months, driven by an uptick in customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment,'' the company stated.