Hero MotoCorp Share Price : In a recent turn of events, Delhi Police have registered an FIR against Hero MotoCorp’s Chairman, Pawan Munjal, and three other officials, citing allegations of conspiracy. This news has had a noticeable ripple effect on the company’s stock performance.
On Monday, 9th October 2023, the shares of Hero MotoCorp have witnessed a decline. As of 2 PM, the shares were trading at 2950.25 rupees on the BSE (Bombay Stock Exchange), marking a decrease of 2.77%. On the NSE (National Stock Exchange), the shares were down by 2.83%, trading at 2952.60 rupees. The shares had opened at 3021.10 rupees on the NSE and 3034.95 rupees on the BSE.
Hero MotoCorp share: Assessing the company’s share performance over the last 52 weeks, its highest recorded value on BSE was 3242.85 rupees, while the lowest stood at 2,246.75 rupees.
Hero MotoCorp share: Media reports shed light on a related event that transpired earlier. In August, the Enforcement Directorate (ED) had conducted raids at the residence of Hero MotoCorp’s Chairman. According to a report by CNBC TV18, it was suggested by sources that a case had been registered against Pawan Munjal under the Prevention of Money Laundering Act (PMLA). The raids by the ED were allegedly in connection with some financial irregularities. Reports hinted at undisclosed foreign currency being discovered from someone close to Pawan Munjal.
It’s evident that these series of events have raised concerns among investors and stakeholders, reflecting in the stock’s recent downtrend. As more details emerge, the automotive and financial sectors will keep a close watch on developments surrounding Hero MotoCorp and its leadership.
