Hero MotoCorp shares up over 1% as firm announces price hike

Hero MotoCorp has announced that it will hike prices of its vehicles from January 2021 to offset the impact of the increased input costs.The stock of the company went up by 1.22% and 1.28% on the BSE and NSE respectively.
By : PTI
| Updated on: 17 Dec 2020, 14:53 PM
File Image - Hero Motor Corp (Representational image)
File Image - Hero Motor Corp (Representational image)
File Image - Hero Motor Corp (Representational image)
File Image - Hero Motor Corp (Representational image)

Shares of Hero MotoCorp on Thursday gained over 1 per cent after the company said it will increase prices of its vehicles from January 1, 2021, to offset impact of rising input costs.

The stock went up by 1.22 per cent to 3,156 on the BSE.

On the NSE, it gained 1.28 per cent to 3,157.50.

Two-wheeler market leader on Wednesday said it will increase prices of its vehicles by up to 1,500 from January 1, 2021, to offset impact of rising input costs.

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(Also read | Hero MotoCorp appoints new COO)

There has been a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals, the company said in a statement.

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"In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by up to 1,500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course," it said.

First Published Date: 17 Dec 2020, 14:53 PM IST
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