Hero MotoCorp had this week announced that it was planning to set up its sixth manufacturing plant in South India to cater to the domestic market and take its overall annual capacity to 12 million units.
Andhra Pradesh government is wooing country's largest two-wheeler maker Hero MotoCorp to
set up a plant in the state.
N Chandrababu Naidu, the newly-elected Chief Minister of the residuary state of Andhra Pradesh, has called Hero MotoCorp MD & CEO Pawan Munjal to set up their new proposed South India plant in the state.
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The Industry Secretary would explore the opportunity, he said on the micro blogging site twitter.
"Spoke to Pawan Munjal, MD&CEO, Hero MotoCorp, to set up their plant in AP. Our industries secretary &their team will explore the opportunity," Naidu had yesterday tweeted.
Hero MotoCorp had this week announced that it was planning to set up its sixth manufacturing plant in South India to cater to the domestic market and take its overall annual capacity to 12 million units.
"We are looking to set up a plant in South India. It will be utilised to service the market there. We are scouting for land at the moment," Pawan Munjal had told PTI. He, however, did not share details regarding the timeline for the completion as well as the location of the plant.
At present, Hero MotoCorp has three manufacturing facilities -- at Gurgaon and Daruhera in Haryana and Haridwar in Uttarakhand -- with a total capacity of 6.9 million units annually.
It is set to commission the fourth facility at Neemrana in Rajasthan with an investment of around Rs 400 crore, thereby taking its total installed capacity to over 7.65 million units. The company, which sold 6.25 million two-wheelers in 2013-14, is also in the process of building its fifth facility in Halol, Gujarat at an investment of Rs 1,100 crore. The Gujarat plant is envisaged to have an annual capacity of 1.8 million units and is expected to go on-stream by 2015-16.
Hero Motocorp stock price
On June 16, 2014, Hero Motocorp closed at Rs 2610.75, up Rs 21.90, or 0.85 percent. The 52-week high of the share was Rs 2775.05 and the 52-week low was Rs 1565.95.
The company's trailing 12-month (TTM) EPS was at Rs 105.62 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 24.72. The latest book value of the company is Rs 356.32 per share. At current value, the price-to-book value of the company is 7.33.
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