The shares of Hero MotoCorp fell as much as 2.1 percent on Wednesday, after the company announced the launch of Xtreme 160R Stealth 2.0. "Further strengthening the rapidly expanding portfolio in the premium segment, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today launched the new Xtreme 160R Stealth 2.0 edition ahead of the festive season," the company said in an exchange filing.
The shares of the two-wheeler manufacturer were trading 1.6 percent lower at Rs 2,596 on BSE at 1:42 pm.
"With a progressive design and clear advances in the areas of connectivity and equipment, the new 2.0 edition of the Hero Xtreme 160R Stealth is set to script another chapter in the motorcycle’s success story," Hero MotoCorp said in an exchange filing.
Hero Xtreme is powered by a 163cc air-cooled BS-VI-compliant engine with a power output of 15.2 PS. Hero Xtreme 160R Stealth 2.0 will be available for Rs 1,29,738 (ex-showroom Delhi). The motorcycle comes in a matte black shade with red accents.
The newly launched motorcycle is embedded with “Hero Connect”, a mobility device that lets riders stay connected, allowing them to trace live locations. The Hero Connect app will provide various useful alerts - Geo-Fence alert, Speed alert, Topple alert, Tow Away alert, and Unplug alerts.
Morgan Stanley has given an 'underweight' call on Hero MotoCorp with a target price of Rs 1,937 per share. The rising sales incentives are likely to offset commodity-led gains according to the brokerage firm.
On ICE side, Hero is seeing market share loss. The company is set for an EV launch, but based on peer experience, the brokerage house expects slow volume ramp up. "Trading in-line with its 10-year average PE of 16x, limited margin upside and market share pressures keep us underweight," says MS.
First Published: Sept 28, 2022 2:54 PM IST
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