Hero MotoCorp might invest Rs 10,000 crores
To begin with, on Tuesday, the country’s largest two-wheeler maker Hero MotoCorp stated it might invest Rs 10,000 crores over the next 5-7 years. So then, this came up intending to create the next generation of mobility solutions.
Besides, the scrip traded 1.68% down at Rs 2,246 following the announcement. On the other hand, the benchmark BSE Sensex traded 301 points or 0.73%. So then, it stood down at 40,754.
Despite this, in a regulatory filing, Pawan Munjal, Chairman, Hero MotoCorp stated over the next 5-7 years they might create the next generation of mobility solutions. Also, they would set aside an investment of Rs 10,000 crores. So then, this would remain in use towards R & D of alternative mobility solutions, sustainable manufacturing facilities. As well as network expansion, and brand building across the globe.
However, as they enter into a new decade, they stood looking forward to helping in the next wave of mass mobility that is accessible, convenient, and environment-friendly. Hero MotoCorp on Feb 6 posted a 17.07% growth in its consolidated net profit. So then, this stood about Rs 905.13 crores for the quarter ended on Dec 31, 2019.
Moreover, it had reported a net profit of Rs 772.81 crores for the corresponding period of previous fiscal. Also, the revenue from operations stood at Rs 7,074.86 crores for the quarter under review. And this came up against Rs 7,937.33 crores for the same period year ago.