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<keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword>, one of the leading <keyword id="22160307" type="General" weightage="20" keywordseo="two-wheeler-manufacturers" source="keywords">two-wheeler manufacturers</keyword> in the country, has announced a price increase for its <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">motorcycles</keyword> and <keyword id="22160306" type="General" weightage="20" keywordseo="scooters" source="keywords">scooters</keyword> starting from July 1, 2024. This information was conveyed by the company in a filing to the exchange on Monday. "Hero <keyword id="20291118" type="General" weightage="20" keywordseo="motocorp" source="keywords">MotoCorp</keyword> will make an upward revision in the ex-showroom prices of select motorcycles and scooters, with effect from July 1, 2024," said the company. The price increase will be up to Rs 1,500 on various models, although the exact amount will differ depending on the specific model and market. "The price revision will be up to Rs. 1,500 and the exact quantum of increase will vary by specific model and market," the company clarified. This means that while some models might see a smaller increase, others could reach the maximum threshold of Rs 1,500. The company has attributed this price adjustment to the rising input costs associated with manufacturing. The company stated that the increase was necessary to mitigate some of these higher costs. "The revision has been necessitated to partially offset the impact of higher input costs," the company stated. The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry. In May 2024 Hero MotoCorp, sold 498,123 units, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments. Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023. However, the company registered growth in export sales. Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

Auto components maker <keyword id="16974120" type="General" weightage="80" keywordseo="lifelong-group" source="Orion">Lifelong Group</keyword> on Wednesday said it has acquired stressed automobile after-sales service startup <keyword id="3933763" type="General" weightage="100" keywordseo="gomechanic" source="Orion">GoMechanic</keyword> for an undisclosed amount. The <keyword id="16975195" type="General" weightage="50" keywordseo="gomechanic-business" source="Orion">GoMechanic business</keyword> has been acquired by the Lifelong Group as the majority shareholder under Servizzy consortium, the Delhi-based firm said in a statement. The Lifelong Group is an Indian company established in 1985 and has been looking to expand its operations in the automotive service and repair industry. This acquisition and new ownership structure with Lifelong Group, a manufacturer of automotive components, medical devices, and a player in the e-commerce space, heralds a new phase for GoMechanic business, it added. The Servizzy consortium, to be led by the Lifelong Group, emerged as the strongest bid in this process for the acquisition of the GoMechanic Business in accordance with the terms and conditions contained in the agreement, it noted. Financial details regarding the deal were not shared. In January this year, GoMechanic co-founder <keyword id="2254426" type="General" weightage="50" keywordseo="amit-bhasin" source="Orion">Amit Bhasin</keyword> admitted to errors in financial reporting, following which a forensic audit has been ordered and a business restructuring undertaken which will see 70 per cent of the 1,000-odd workforce being laid off. Nearly two years after it raised a mammoth USD 42 million in funding, it emerged that GoMechanic cooked its financial books by inflating revenues. GoMechanic navigated the recent challenges by continuing operations across 800 workshops and servicing 30,000 vehicles in January. "Acquisition of the GoMechanic business, aligns with our strategic vision of synergising the Lifelong Group's proven expertise in the automotive industry. We are focused on building upon GoMechanic's business journey, and will continue revolutionizing the Indian automotive service and repair industry," a Lifelong Group official spokesperson said. Lifelong Group diversified into auto component manufacturing in 1995, medical devices in 2005 and e-commerce in 2015. The business has grown from an annual revenue of USD 0.5 million in 1995 to over USD 175 million today and caters to major customers in the automotive industry like <keyword id="6587061" type="General" weightage="50" keywordseo="hero-moto-corp" source="Orion">Hero Moto Corp</keyword>, General Motors, <keyword id="251458" type="General" weightage="50" keywordseo="arvin-meritor" source="Orion">Arvin Meritor</keyword>, Stanley Black &amp; Decker etc. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/we-used-chatgpt-to-plan-international-trips-heres-a-tour-of-the-results/articleshow/99082349.cms">We used ChatGPT to plan international trips - here’s a tour of the results!</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/sc-allows-centres-plea-seeking-5000-cr-from-sebi-sahara-fund-to-repay-depositors/articleshow/99082509.cms">SC allows Centre's plea seeking ₹5,000 cr from SEBI-Sahara fund to repay depositors</a>

Lifelong Group-led consortium acquires troubled car servicing startup GoMechanic

HDFC Bank, HCL Tech, Indian Oil, Hero MotoCorp and other hot stocks on January 17

New Delhi, <keyword id="6357252" type="General" weightage="20" keywordseo="hero-Motocorp" source="Orion">Hero Motocorp</keyword> share price slumped more than 4 per cent after the Enforcement Directorate carried out searches at the residence of company Chairman <keyword id="87849" type="General" weightage="20" keywordseo="Pawan-Munjal" source="Orion">Pawan Munjal</keyword>. <keyword id="7029" type="General" weightage="20" keywordseo="Hero" source="Orion">Hero</keyword> Motocorp share was trading at Rs 3,066, down 4.3 per cent on BSE. In troubles for Hero Motocorp chairman Pawan Munjal, the Enforcement Directorate (ED) on Tuesday carried out searches at his residence and several other locations. According to ED sources, the agency sleuths carried out searches at the premises of Munjal and 10 others. The source said that the financial probe agency action was based on the complaint by the Directorate of Revenue Intelligence (DRI) case against Munjal. The DRI team had found foreign currency from Munjal's premises, the source claimed. However, the officials of the ED remained tight-lipped on the case and searches against Hero Moto Corp chairman. san

Hero Motocorp stock slumps after ED searches at Pawan Munjal's residence

<ul><li>Indian benchmark stock indices, Sensex and <keyword id="2931774" type="PERSON" weightage="20" keywordseo="Nifty50">Nifty50</keyword>, dropped over a percent and hit a six-week low in trade today (March 18)</li><li>The second wave of COVID-19 infection dents sentiment in the world’s fifth-largest economy.</li><li>While the market seems to be fearing another crash in economic activity, the most recent data does not seem to indicate that.</li><li>The Nomura India Business Resumption Index (NIBRI) for the week ending 14 March was short of the pre-pandemic normal by just 4.3 percentage points.</li></ul>Investors lost about ₹3 lakh crore on the fifth straight day of losses in the Indian share market. The total loss in market capitalisation over the last five days has been nearly ₹9 lakh crore (about $124 billion), according to broking firm Reliance Securities. Indian benchmark stock indices, Sensex and Nifty50, dropped over a percent and hit a six-week low in trade today (March 18) as the second wave of COVID-19 infection dents sentiment in the world’s fifth-largest economy. While the sell-off in Indian shares hit nearly all sectors, tech stocks led by HCL Tech and Infosys and pharma stocks led by Dr Reddy’s Laboratories and Divi’s Laboratories were the worst hit. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty50 stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 18 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.79% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy’s Lab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Lab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Moto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.68% </td></tr></tbody></table> “A sharp rise in daily Covid-19 cases in India has raised apprehensions about sustainability of ongoing rebound in corporate earnings,” Binod Modi, head of strategy at Reliance Securities said. However, he believes that “stringent measures by the administration” can control the current wave of COVID-19 infections and the sell-off, in the meantime, may pull down shares to bargain prices. The day started on a positive note as the Federal Reserve seemed less worried about inflation in the US. A rise in inflation in the US would force the American central bank to increase interest rates, making it more attractive for global investors to pull money out of emerging markets like India and invest it in the US. This was the overwhelming fear in the run up to the Fed meet and it had come undone at the end of it. As the Fed Chairperson Jerome Powell downplayed the inflation risk in the US, the dollar weakened against all major currencies. A weaker dollar hurts Indian exporters. That would explain the sharp fall in marquee stocks like Infosys and HCL Tech (where the earnings expectations are still strong) as well as drug exporters like Dr Reddy’s Labs. But the confidence among the bulls wasn’t strong enough to overcome the fear of a resurgent pandemic. ITC was the top gainer among large-cap stocks today followed by Bajaj Auto, Hindalco and Bharti Airtel. The sell-off in the mid and small-cap segments was equally brutal as the large-cap indices Sensex and Nifty50. While the market seems to be fearing another crash in economic activity, the most recent data does not seem to indicate that. The Nomura India Business Resumption Index (NIBRI) picked up to 95.7 for the week ending 14 March. That’s a 4.3 percentage point short of the pre-pandemic normal. Essentially, the report dated March 15 showed that Indians are going about their business as usual, not bothered by the latest wave of infections. And that economic activity is nearly as good as it was before the pandemic. But as far as the share market goes, the bears seem to be in charge of the narrative. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a>

Investors have lost nearly ₹9 lakh crore in last five days as the spike in COVID-19 cases bursts the market bubble

UltraTech Cement, Grasim, Adani Enterprises, Kotak Mahindra Bank among top Nifty gainers this week

<ul><li>At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Wednesday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50. However, <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-200-points-as-investors-await-georgia-run-off-election-results/articleshow/80124817.cms">the US stocks ended higher </a>on Tuesday, as investors took advantage of the previous session's slump to buy back, ahead of the outcome of the Senate elections in the state of Georgia. The Dow Jones Industrial Average closed 167 points higher, and the S&amp;P 500 was up 0.71%. These are the stocks to watch out for during the trading session today: HDFC Bank The country's largest private sector lender HDFC Bank logged in a loan growth of 19% to ₹10,82,000 crore during the third quarter ended December 2020. Meanwhile, the bank's CASA (current account savings account) ratio rose to around 43%, compared to 39.5% in December 2019. BEML BEML has bagged orders worth ₹758 crore for supply of high mobility vehicles from the Ministry of Defence. Hero MotoCorp The government-owned Life Insurance Corporation (LIC) has increased its stake in Hero MotoCorp to 9.16% from 7.14% earlier. Bajaj Finance The Reserve Bank has imposed a <a href="https://www.businessinsider.in/finance/news/rbi-imposes-rs-2-5-crore-penalty-on-bajaj-finance-pune/articleshow/80119118.cms">penalty of ₹2.5 crore on Bajaj Finance</a>, Pune for breaching regulatory compliance norms. RBI also stated that there were complaints about recovery and collection practices. IndiGo India’s aviation regulator has <a href="https://www.financialexpress.com/industry/indigo-gets-edto-approval-for-29-pw-engine-powered-a320-a321neo-planes/2165042/">given the green light for IndiGo </a>to operate its Pratt &amp; Whitney powered Airbus A320/A321 neo fleet on longer overseas routes or as extended diversion time (EDTO) flights. EDTO allows a multi-engine aircraft to divert to a nearby airport in case of an emergency situation and is mainly applicable for international flights. Godrej Consumer Products FMCG player Godrej Consumer Products said it <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/373128e6-db11-4349-a838-73e4e8fc77fa.pdf">expects</a> to deliver "close to low double-digit sales growth" in the domestic market during the October-December 2020 quarter, led by soaps and household insecticides segments. The company has also witnessed a "sharp recovery" in its hair colour segment, which is expected to deliver mid-teen growth. ACC The cement manufacturer ACC has started operations at its new grinding unit in Dhanbad district of Jharkhand. This will result in an additional capacity of 1.4 million tonnes per annum to the existing 3 million tonnes units — taking the total capacity at Sindri to 4.4 million tonnes per annum. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

You Searched For "Hero Moto" and got 7 results

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

ANI

Lifelong Group-led consortium acquires troubled car servicing startup GoMechanic

PTI

HDFC Bank, HCL Tech, Indian Oil, Hero MotoCorp and other hot stocks on January 17

Rounak Jain

Hero Motocorp stock slumps after ED searches at Pawan Munjal's residence

IANS

Investors have lost nearly ₹9 lakh crore in last five days as the spike in COVID-19 cases bursts the market bubble

Sriram Iyer

UltraTech Cement, Grasim, Adani Enterprises, Kotak Mahindra Bank among top Nifty gainers this week

Navdeep Yadav

Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others

Navdeep Yadav

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