Hero MotoCorp stock jumps over 3% to hit new record high, crosses ₹5000 mark – here's why
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, crossed the ₹5,000 mark in today's trade to hit a new all-time high of ₹5,045 apiece by gaining 3.2%. The stock's surge today has propelled it to achieve a 93% gain over the past year and 105% increase over the past two years. Starting from its low of ₹2,146 per share in March 2022, the stock is currently trading at a remarkable 134% increase.
It took seven months for the stock to climb from ₹3,000 to ₹4,000, and only five months to surpass the ₹5,000 level. The company on Monday said that it has joined the Open Network for Digital Commerce (ONDC) to enhance reach and convenience and provide an easily accessible digital mode to customers. Hero MotoCorp already has the largest physical distribution and service network in the Indian auto industry.
Partnering with ONDC will further enhance the reach and convenience, providing an easily accessible digital mode to customers. Also Read: Torrent, Glenmark lead Indian pharma market growth. Sun, Cipla, Lupin are among other notable gainers "The Open Network will initially offer two-wheeler parts, accessories, and merchandise.
Customers can easily discover Hero Genuine Parts by using any buyer apps on the network, such as Paytm and Mystore, among others, " the company said in its regulatory filing. The company further said that by improving reach and creating a fair and efficient environment for Hero MotoCorp’s channel partners, this integration speeds up order processing by enabling hyperlocal deliveries backed by Hero MotoCorp’s extensive physical distribution. Also Read: General Elections 2024: How to make most out of the ongoing Lok Sabha polls? As Hero MotoCorp onboards the network, it further
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