Hero Motors share price hit a record high of ₹116.74 in Thursday’s trading session, despite stock market crash. The newly listed stock surged as much as 18% on NSE on 24 September, after falling over 20% in the previous session.
Hero Motors shares opened at ₹103 per share today, as compared to previous close of ₹98.40 on Wednesday. The market capitalisation of Hero Motors stood at ₹5,072.68 crore, as of 10:15 am.
Meanwhile, Indian benchmark indices opened sharply lower on Thursday as investors reacted to the US 10-year Treasury yield rising above 5.10%. Both the Sensex and Nifty started the session with a gap-down opening, with the Sensex dropping more than 500 points and the Nifty falling below the 23,300 level. The Nifty Private Bank and Nifty Financial Services indices also declined nearly 2% each.
The rally in Hero Motors share price came in after the stock witnessed a higher trading volume on exchanges. According to data available on NSE, around 993.95 lakh shares changed hands during the intraday session on 24 September.
Hero Motors share price – What should investors do?
According to Seema Srivastava, Senior Research Analyst at SMC Global Securities, for short-term market participants, post-listing volatility demands careful tracking of immediate price stabilization, order-book milestones, and volume sustainment near support thresholds.
“Conversely, long-term investors should prioritize fundamental business execution, monitoring how effectively capital expenditure translates into sustainable EBITDA margins, debt reduction, robust free cash flow generation, and return on capital employed compared to listed auto-component peers, looking well beyond the initial brand association,” she said.
Meanwhile, Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, believes that Hero Motors has shown strong buying interest after its subdued listing, with the stock moving close to the ₹100 mark.
Ojha further added that at current levels, investors who have already booked gains can consider booking partial profits, while those holding the stock may continue to hold with a strict stop-loss of ₹95.
“Sustaining above ₹95 could keep the near-term momentum positive, whereas a break below this level may indicate weakness and warrant caution,” he added.
Hero Motors IPO listing details
Hero Motors shares made a subdued debut on the stock exchanges on Wednesday, 23 September, listing at a discount to their IPO price.
On the NSE, the shares opened at ₹82, down 2.38% from the issue price, while on the BSE, the stock debuted at ₹82.10, marking a 2.26% discount. The ₹1,000-crore mainboard IPO had received bids 6.66 times the shares on offer during its three-day subscription period.
The IPO comprised a fresh issue of equity shares worth up to ₹600 crore and an Offer-for-Sale (OFS) component of up to ₹400 crore.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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