Key Developments: Hero MotoCorp Ltd (HROM.BO)

HROM.BO on Bombay Stock Exchange

2,951.05INR
19 Sep 2014
Price Change (% chg)

Rs-47.10 (-1.57%)
Prev Close
Rs2,998.15
Open
Rs2,998.55
Day's High
Rs3,022.00
Day's Low
Rs2,942.00
Volume
31,139
Avg. Vol
35,888
52-wk High
Rs3,080.00
52-wk Low
Rs1,907.00

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Latest Key Developments (Source: Significant Developments)

Hero Motocorp Ltd Incorporates Wholly Owned Subsidiary In U.S.A.; Picks Up 49.2% Stake In Erik Buell Racing, inc
Sunday, 30 Jun 2013 11:40pm EDT 

Hero Motocorp Ltd announced has incorporated a wholly owned subsidiary in U.S.A. by the name of HMCL (NA), Inc. (HMCL (NA)) inter alia for the purposes of investing in Erik Buell Racing, inc. (EBR). HMCL(NA) has agreed to invest USD25 million in EBR for a total stake of 49.2% in the share capital of EBR. The first tranche of USD15 million has been invested by HMCL (NA) on June 28, 2013. The second tranche of USD10 million is proposed to be invested within the next nine months.  Full Article

Hero Motocorp Ltd Recommends Dividend
Friday, 26 Apr 2013 05:58am EDT 

Hero MotoCorp Ltd announced that the Board of Directors at its meeting held on April 26, 2013 has considered and recommended a dividend at 3000% that is INR60 per equity share of INR2 each for the financial year 2012-2013.  Full Article

Hero Motocorp Ltd Incorporates Subsidiary In Netherlands-The Economic Times
Sunday, 31 Mar 2013 07:09pm EDT 

The Economic Times reported that Hero Motocorp Ltd has incorporated an off-shore investment subsidiary in the Netherlands — the overseas arms it plans to establish. This new subsidiary is the overseas financial transaction by Hero MotoCorp aimed to catapult international operations into growth driver in the future, according to three informed sources. Hero recently got 100% subsidiary incorporated in the Netherlands to expedite global expansion plans, which includes overseas investments and merger and acquisition opportunities. The Company may announce this soon, said a senior executive from Hero MotoCorp. The size of the potential investment in the overseas subsidiaries was, however, not available.  Full Article

Hero Motocorp Ltd's Gurgaon Workers’ Union Plan Hunger Strike From February 28-The Economic Times
Monday, 25 Feb 2013 11:43pm EST 

The Economic Times reported that the members of Hero Motocorp Ltd's workers' union at Gurgaon unit have decided to go on a hunger strike from February 28, demanding higher wages after several rounds of negotiations failed to reach any settlement. So far, the union has held several meetings with the Hero management overseen by the Haryana government's labour department. The strike would be undertaken by the union's office bearers. They will go an indefinite fast from February 28. Only the union members will take part in the protest and others would continue to work, said a functionary of the union. Gurgaon unit's employees have been demanding higher wages and have been sporting black armbands for the past few months.  Full Article

Hero Motocorp Ltd Union Decision To Strike On February 22, 2012 Hinges On Wage Talks-Business Standard
Thursday, 21 Feb 2013 02:05pm EST 

Business Standard reported that Hero Motocorp Ltd Workers Union (HMCWU-Gurgaon unit) will consider initiating a hunger strike or abstaining from production if its next round of talks with the management tomorrow remains inconclusive. A union office bearer said that they had over 60 meetings with the management and there has been little progress in the negotiations. If the talks remain inconclusive tomorrow also, they would have to consider sterner measures such as a possible hunger strike or complete stoppage of production. The workers at the Gurgaon unit have been agitating for two months to press ahead with their demand for higher wages. The workers have been sporting black arm-bands and have stopped taking tea and snacks offered by the Company. While the employees are demanding an increment of around INR15,000 in monthly salary spread over a period of three years, the management is reluctant to increase wages beyond INR7,500-9,000 in monthly settlement. The union is now showing signs of disquiet due to little progress in the talks, which have been on for the last six months. A worker at the Gurgaon factory said they have not stopped work, but have been protesting peacefully. But the management is showing no signs of relenting. Last month, workers at the company’s Gurgaon unit were reported to have slowed production operations, which had led to a loss of around 1,200 scooters.  Full Article

Hero Motocorp Ltd Workers Demand Wage Hike, Threaten Stir-Hindustan Times
Tuesday, 12 Feb 2013 02:31pm EST 

Hindustan Times reported that Workers of Hero Motocorp Ltd’s Gurgaon plant, who have been demanding a hike in their wages, on February 12, 2013 threatened to go on strike if the management failed to meet their demands. Leaders of the Hero MotoCorp Workers Union (HMCWU) threatened to strike work if the management did not give them a three-fold hike in monthly wages. At present the workers are given INR6,500 per month. According to a Hero Motocorp spokesperson, the workers held a meeting even though the labour department had advised against such a move.  Full Article

Hero Motocorp Ltd Starts Building New Plant-WSJ
Tuesday, 15 Jan 2013 10:01am EST 

The Wall Street Journal reported that Hero Motocorp Ltd began construction of its fourth manufacturing plant as well as a parts center at a combined investment of INR5.5 billion ($102 million). The facilities in the northern state of Rajasthan will open toward the end of the financial year through March 2014.  Full Article

Hero Motocorp Ltd Developing 250cc Sports Bike Along With Partner EBR-The Economic Times
Tuesday, 20 Nov 2012 06:58pm EST 

The Economic Times reported that is pulling out all stops towards unveiling its first developed motorcycle - an all-new 250cc sports bike - at the next Auto Expo in 2014. The motorcycle is being developed in collaboration with Hero Moto's American technology partner Erik Buell Racing (EBR).  Full Article

Hero Motocorp Ltd Ties Up With HDFC Bank Ltd-Business Line
Sunday, 21 Oct 2012 08:00pm EDT 

Business Line reported that Hero Motocorp Ltd has tied up with HDFC Bank Ltd to offer financing at 6.99 % across its entire range of products. As per industry estimates, the existing interest rate on two-wheeler finance is around 10 %.  Full Article

India's Hero MotoCorp plans to invest $262 mln in new plant - source

NEW DELHI, Sept 15 - Hero MotoCorp Ltd, India's top maker of motorcycles and scooters, plans to invest 16 billion rupees ($262 million) to set up a new manufacturing plant in southern India, a source directly involved in the matter said.

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