Hero Financial News

A hiking trip for a group of friends in New Brunswick’s Fundy National Park this past weekend turned into a dramatic rescue, and resulted in an off-duty police officer being hailed as a hero.

Hero MotoCorp is now looking at sustainable growth, enhancing market share across segments on the back of new product launches over the next few quarters, according to a top company executive. The country's largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings.

Hero MotoCorp, having restored its margins to pre-Covid levels, is now focused on achieving sustainable growth. The company aims to boost its market share across various segments through the introduction of new products in the coming quarters, as stated by a senior company executive, reported PTI. The nation's leading two-wheeler manufacturer is actively working on increasing its production capacity to facilitate the launch of the highly-anticipated Harley-Davidson X440, which has already garnered more than 25,000 bookings.

Technology has transformed how we access services and do just about most things. From ordering food to booking tickets, investing in stocks to finding a mate, things are quicker and more convenient than ever before. The financial landscape is no different, where the emergence of apps like Hero Fincorp’s Instant Personal Loan App are redefining how individuals can get prompt financial assistance.

Hero Electric Vehicles Private Ltd has been downgraded after the company defaulted on its loans as it faces a liquidity crunch with over ₹500 crore of FAME-II subsidies withheld by the government. Credit ratings agency Crisil on Monday downgraded Hero Electric's long term and short-term ratings to Crisil D from Crisil B and Crisil A4, respectively.

CRISIL Ratings has removed its ratings on the bank facilities of Hero Electric Vehicles Private Limited (HEVPL) from 'Rating Watch with Negative Implications' and has downgraded the ratings to ‘CRISIL D/CRISIL D’ from ‘CRISIL B/CRISIL A4’. The rating action reflects a delay in servicing of debt obligations due to poor liquidity. There has been a sharp deterioration in the financial risk profile due to continued operating losses, stretch in liquidity due to buildup of subsidy receivables and lower than expected equity infusion from external investors.

InterGlobe Aviation: Private airliner IndiGo Airlines' promoter Gangwal family is all set to sell its shares worth ₹3,730 crore through a block deal on 16 August, reported ET citing the term sheet. According to the report, the family has put 15.6 million shares on the block with a floor price of ₹2,400 per share, which is a 5.8% discount to the closing price of Monday. The deal's lenders are Morgan Stanley, JPMorgan, and Goldman Sachs.

Nawab Malik walked out on bail to a rousing reception by both factions of the Nationalist Congress Party, on Monday evening. Malik was granted two months' conditional bail on medical grounds and was set free from a private CritiCare Asia Hospital in Kurla where he was undergoing treatment since May 2022.NCP (Sharad Pawar) sources said that now he is likely to continue his medical treatment at home under the care of his family members. After the Supreme Court order granting bail on Friday, Malik's legal team started the relevant formalities which were completed late this evening and the ex-firebrand minister finally walked out to temporary freedom. Appearing weary but relieved, Malik was received by his family members, then hundreds of supporters from the rival NCP factions greeted him, raising slogans in his favour and he got into a vehicle.

Hero MotoCorp Ltd. on Monday announced that Sunil Kant Munjal will exit the firm as it disclosed its family settlement agreement that it received from the promoters, said the company through its exchange filling. «The Management and Control of Listed Entity vested with the Family Group and Mr.

Hero FinCorp, an arm of India's largest two-wheeler maker, Hero MotoCorp, has interviewed investment banks over the past two weeks as it searches for underwriters for a planned initial public offering (IPO) of shares that could raise ₹4,000 crore, according to people aware of the matter. The financing arm of the two-wheeler maker that provides retail and business loans has interviewed 7-8 investment banks that include domestic and international players. It could finalise the list of advisers soon, according to people in the know.

Murlikant Petkar? I have performed the same drill in many of my talks. Rarely have I seen a hand go up. It’s a painful sight. And a proof that India still has distance to travel to become an inclusive, equal and a multisport nation. Petkar, now 77, is a war hero and the winner of India’s first-ever Paralympics gold medal. He won the gold in the 50m freestyle (swimming) in 1972 in Heidelberg, Germany with a then world record time. And that after he had sustained multiple bullet wounds, nine to be precise, in the 1965 India-Pakistan war. That he was still alive was a miracle. But he did not give up and went on to win multiple international medals thereafter to make his feat one of the greatest ever achievements in the history of Indian sport. Yet, very few know about him. Maybe with Kabir Khan now working on a biopic of Petkar with Kartik Aaryan in the lead, things will change. Like Bhaag Milkha Bhaag made Milkha Singh a household name to the current generation. Singh’s exploits in the 1960 Rome Olympics, which the film revisits and helps contextualise, have been restored to their rightful place in the public imagination. Shah Rukh Khan starrer Chak De! India did the same. Entwining a tale about nationalism with a narrative concerning the neglected state of Indian women’s hockey, Chak De! India brought a known story of indifference and discrimination to light. It helped illuminate how Indian women’s sport remains trapped within traditional gender stereotypes.

LICLife Insurance Corp's (LIC) standalone net profit rose multifold to Rs 9,544 crore for the quarter ended June.HeroHero MotoCorp reported a 32% growth in net profit for the quarter ended June to Rs 825 crore. Revenue from operations grew 4.5% YoY to Rs 8,767 crore.BioconBiocon reported net profit of Rs 101 crore in the June quarter.

LIC: State-run Life Insurance Corp of India (LIC) recorded a 14-fold year-on-year jump in net profit at ₹9,543.7 crore for the first quarter of FY24, even though the country's largest insurer has been witnessing a shrink in its market share in terms of new business premium. The super-normal growth in net profit is primarily attributed to a base effect and a change in accounting entry, involving a transfer of funds from non-participating policies to shareholders'' account as a part of accretion on the available solvency margin, according to a regulatory filing. Reliance Industries: The shares of the demerged Jio Financial Services (JFSL) have been credited to the demat account of eligible shareholders of billionaire Mukesh Ambani-led Reliance Industries Limited (RIL), reported Economic Times on 10 August.

Hero MotoCorp Thursday missed Street estimates to report a 32% increase in net profit at Rs 824.72 crore for the first quarter ended June 30,2023 driven by price hikes and a better product mix. The company had posted net profit of Rs 624.52 crore in the corresponding period of the last financial year. Kotak Institutional Equities had expected net profit to grow 40.3% to Rs 875.90 crore and revenues to increase 7% led by a 10% increase in average selling price (ASP) due to price increases and a richer product mix.

₹825 crore in Q1 of FY24. In the corresponding period of the previous year, Hero Moto Corp had reported ₹624.5 crore in Q1FY23, it said in a stock regulatory filing. This is a developing story, it will be updated shortly.

Hero MotoCorp on Thursday reported a 32% year-on-year (YoY) growth in net profit for the quarter ended June 2023 to Rs 825 crore. Revenue from operations grew 4.5% YoY to Rs 8,767.3 crore.

Q1 results today: After trend reversal at Indian stock market, experts have started to expect key benchmark indices to climb to a new peak. In fact, some experts are expecting 70,000 levels for Sensex by end of 2023 whereas some are predicting Nifty to climb up to 21,000 in next five months.

Hero MotoCorp is expected to report year-on-year growth in revenue for the quarter ended June despite a drop in volumes, primarily due to price hikes undertaken by the company. Higher prices and a richer product mix are likely to aid the operational performance of the company. The country’s largest two-wheeler maker is likely to report a 42% year-on-year (YoY) rise in net profit for the quarter ended June to Rs 887 crore, according to the average of estimates given by 13 brokerages.

Hero MotoCorp's relationship with a vendor suspected of reporting about 900 million rupees ($10.87 million) in false expenditure, two sources familiar with the matter told Reuters. Based on the alleged fake spending by vendor Salt Experiences, Hero MotoCorp received a tax credit, leading to suspected tax evasion of about 160 million rupees, one of the two sources said, speaking on condition of anonymity.

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Hero MotoCorp today announced that it has received a total of 25,597 bookings for the Harley-Davidson X440 up to the present date. The booking window, which initially opened on July 4, has now been closed, with details about the forthcoming booking window set to be disclosed soon, according to a statement by the company.