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Hero MotoCorp Reports 34 pc Growth; Stocks fall

Indian equity benchmarks closed on a flat note on Wednesday ahead of US Federal policy meet result. The Nifty-50 of National Stock Exchange closed the day 21 points down at 10,718, while the BSE sensitive index clocked nominal gains of 16 points ending at 35,176.

Automaker Company Hero MotoCorp, in a stock exchange filing on Wednesday reported a 34.8 percent increase in net profit at Rs 967.40 crore for the fourth quarter on 2017-18 higher than Rs 717.75 crore in the corresponding quarter of the last year. The revenue for the March ended quarter was at Rs. 8,564.04 crore, which is 14.25 percent higher on year-on-year basis, higher than Rs 7,495.68 crore in January-March 2017 quarter.

Shares of Hero MotoCorp Ltd today closed in the exchange at Rs.3662.30 down by 1.91 percent, in comparison with the previous close of Rs. 3733.70. The stock hit an intraday peak of Rs. 3,775 and intraday low of Rs. 3,642.10 on Wednesday’s trade.

HCL Tech Slips 4.79 pc: Shares of HCL Technologies Limited  fell 4.79 percent on the BSE after the IT Company reported a lower than expected 1.5% Q-o-Q rise in its net profit at Rs 22.27 billion for the Q4 ending as on March 31, 2018.  The stock hit an intraday high of Rs. 1,060.00 and intraday low of Rs. 997.00 on Wednesday’s trade, on the Exchange, during Wednesday’s trade.

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