Hero Motocorp Climbs Above Rs 3,000 On Distribution Pact With Harley Davidson

On Wednesday, shares of Hero Motocorp climbed over 4 percent to Rs 3,035.00 ahead of its financial results for the September ended quarter and on announcing that it has entered into a distribution and licensing agreement with American motorcycle maker Harley Davidson.

"As per a distribution agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles, and sell parts & accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero's existing dealership network in India," Hero MotoCorp said in a statement.

It will also develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

The announcement comes a month after Harley Davidson Inc announced its exit from India as part of its global strategic restructuring plan

Hero MotoCorp is also scheduled to announce its September quarter results on Wednesday where brokerages expect the two-wheeler manufacturer to report double-digit profit increase.