TLDR

Hero MotoCorp plunges 5% on heavy volume after Ather investment.

More Info

https://faxioms.com/stocks/heromotoco

Details

• Hero MotoCorp fell sharply on September 2, closing at 5,300, down 5% from the previous close of 5,555.
• The stock traded in a wide range of 5,167-5,485 with volume surging to 2 million shares.
• The decline follows recent reports of Hero MotoCorp acquiring a significant stake in Ather Energy through a Rs 1,758 crore share purchase and committing an additional Rs 960 crore.
• The stock has been in a weak downtrend, down 5% over the past five sessions and 7% over the last ten sessions.