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Japanese two-wheeler major Honda Motorcycle and Scooter India (HMSI) on Tuesday trumped its partner-turned-rival Hero MotoCorp in Dhanteras sales, sources told NDTV.
HMSI, which is expanding its footprint across the country, sold 1.65 lakh two-wheelers on October 21, sources said. Hero MotoCorp, India's biggest two-wheeler maker, managed to sell 1.5 lakh units on Dhanteras, the company said in a statement to the Bombay Stock Exchange.
Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables in India.
Hero MotoCorp said its sales grew 40-50 per cent over previous Dhanteras. Strong growth in Dhanteras sales triggered buying in auto stocks today. The auto-sub index on the BSE jumped nearly 2 per cent as compared to a 0.8 per cent gain in the broader Sensex.
Hero MotoCorp shares traded with over 3.5 per cent gains making it the top gainer on the 50-share Nifty index in morning trade. The stock also hit its 52-week high today. HMSI is not listed.
Bajaj Auto rose 2.1 per cent though Chennai-based TVS Motor was down 1 per cent. Their sales number is not known.
HMSI and Hero MotoCorp are locked in a battle of market leadership in the domestic two-wheeler market that is poised for strong growth as the economy turns. Hero MotoCorp is the market leader in motorcycles, while HMSI is the dominant player in the scooter segment.
When HMSI parted ways with Hero MotoCorp in 2010, it had just one factory in Manesar. Last week, the Japanese major laid the foundation stone for its fourth plant in India.
In fiscal year 2013-14, HMSI clocked 36.50 per cent year-on-year growth in volumes as against Hero MotoCorp's volume growth of 3.43 per cent, according to SIAM data.
Source : HMSI Trumps Hero in Dhanteras Sales; Auto Stocks Soar - NDTVProfit.com
HMSI, which is expanding its footprint across the country, sold 1.65 lakh two-wheelers on October 21, sources said. Hero MotoCorp, India's biggest two-wheeler maker, managed to sell 1.5 lakh units on Dhanteras, the company said in a statement to the Bombay Stock Exchange.
Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables in India.
Hero MotoCorp said its sales grew 40-50 per cent over previous Dhanteras. Strong growth in Dhanteras sales triggered buying in auto stocks today. The auto-sub index on the BSE jumped nearly 2 per cent as compared to a 0.8 per cent gain in the broader Sensex.
Hero MotoCorp shares traded with over 3.5 per cent gains making it the top gainer on the 50-share Nifty index in morning trade. The stock also hit its 52-week high today. HMSI is not listed.
Bajaj Auto rose 2.1 per cent though Chennai-based TVS Motor was down 1 per cent. Their sales number is not known.
HMSI and Hero MotoCorp are locked in a battle of market leadership in the domestic two-wheeler market that is poised for strong growth as the economy turns. Hero MotoCorp is the market leader in motorcycles, while HMSI is the dominant player in the scooter segment.
When HMSI parted ways with Hero MotoCorp in 2010, it had just one factory in Manesar. Last week, the Japanese major laid the foundation stone for its fourth plant in India.
In fiscal year 2013-14, HMSI clocked 36.50 per cent year-on-year growth in volumes as against Hero MotoCorp's volume growth of 3.43 per cent, according to SIAM data.
Source : HMSI Trumps Hero in Dhanteras Sales; Auto Stocks Soar - NDTVProfit.com
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