Hero Motor Corp Shares Fall As Company Reports Decline In Aug Sales

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, September 2, 2015, 10:54 [IST]

Shares in Hero Motor Corp shed more than 2.5 per cent in trade after sales figures of the company for the month of August declined.

The stock was last trading at Rs 2329 after the company reported a 13.97 per cent decline in sales at 4,80,537 units for the month of August. The company had sold 5,58,609 units in the same month last year.

Hero Motor Corp shares have been on a decline as investors continued to remain worried that sales in rural areas could be hit due to the monsoon affect.

The stock had hit a 52-week high earlier of Rs 3271. The upcoming festival season may revive demand for the company's products.

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