Hero MotoCorp hits 52-week low

7 Mar 2022 , 03:09 PM

Shares of Hero MotoCorp have declined 14% in five trading sessions from its previous closing high of Rs 2,559.45 posted on 25 February 2022. The counter has fallen nearly 37% from its 52-week high of Rs 3491.15 hit on 5 March 2021. The stock hit a 52-week low of Rs 2,170.65 in intraday today.

In one month, the stock has fallen nearly 17% as compared to a 8% fall in Nifty 50 index.

On the technical front, the stocks RSI (relative strength index) stood at 25.102. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 2605.91 and 2612.34 respectively. These levels will act as crucial resistance zones in near term.

Hero MotoCorp is the worlds largest manufacturer of motorcycles and scooters. On a consolidated basis, its net profit declined 30.95% to Rs 703.74 crore on 18.46% fall in net sales to Rs 8,013.08 crore in Q3 FY22 over Q3 FY21.

Powered by Capital Market – Live News