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

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.

File Image - Hero Motor Corp (Representational image)
File Image - Hero Motor Corp (Representational image)

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.

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.

"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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