Hero MotoCorp shares fall 3% as October gross sales drop 6%; exports bounce 43%

Shares of Hero MotoCorp slipped as a lot as 3% to their day’s low of Rs 5,382 in morning offers on Tuesday, November 4, after the two-wheeler main reported a pointy drop in October gross sales in FY26.

For the month beneath overview, the corporate bought 6,35,808 models, registering a drop of 6.3% from 6,79,091 models bought in the identical month of the earlier fiscal yr. Motorbike gross sales dropped 10.22% to five,70,753 models through the month, sharply down from 6,35,787 automobiles bought within the corresponding month of the earlier fiscal yr. Home gross sales dropped 8% to six,04,829 models in October 2025.

Scooter gross sales, then again, rose over 50% to over 65,000 models, marking a rise from 43,304 scooters bought in October 2024, the corporate mentioned in an alternate submitting on November 3. Exports for the month additionally rose 43% to just about 31,000 models, a rise from 21,688 models in automobile exports in October 2024.

Hero MotoCorp, the world’s largest two-wheeler producer, wrapped up the festive season on a robust word with 994,690 unit registrations on VAHAN. Strengthening its world footprint, Hero MotoCorp additionally entered European markets – Italy, Spain, the UK, and France with Euro 5+ compliant fashions such because the Hunk 440 and Xpulse 200.

Following the October gross sales, Citi maintained its Purchase ranking with a goal value of Rs 6,100, noting a ten% upside from the present market ranges. It mentioned that whereas home two-wheeler gross sales declined 8% year-on-year and seven% month-on-month, barely beneath estimates, VAHAN registrations rose sharply by round 70% YoY, indicating sturdy festive retail demand.

The worldwide brokerage expects retail momentum to stay agency, which may result in stock restocking in November and December if the development sustains. Citi believes the inventory’s premium valuation of round 20x FY27E EPS is supported by elements equivalent to a rural restoration, new product launches, and enhancing margins, although it flagged potential dangers from a rural slowdown, rising prices, aggressive pressures, and the result of the continued tax inquiry.At about 9:30 am, shares of the corporate had been buying and selling at Rs 5,391, decrease by 3% from the final shut on the NSE. Hero MotoCorp shares are up 43% over the past six months.

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