Hero MotoCorp stock logs stellar rally after Rs420cr investment in Ather Energy

17 Jan 2022 , 10:39 AM

Hero MotoCorp’s share price surged over 5% in the early morning trade on Monday following the company’s announcement of a Rs420cr investment in Ather Energy. The company’s board has approved such investment to be made in various tranches.

After this investment, the company’s shareholding will be further increased from its existing 34.8% shareholding as yet. The company is also exploring collaborations with Ather Energy in various other spheres.

The company also mentioned its vision to build an entire EV ecosystem — from products to technology, to sales, services, customer care, operations, and innovation, which will contribute to significant growth in near future. 

Hero MotoCorp Ltd is currently trading at Rs2,705 up by Rs134.45 or 5.23% from its previous closing of Rs2,570.55 on the BSE.