US Markets
Home›US Markets›Equities›Hero Motors shares swing from 52-week high to lower ci…
Hero Motors shares swing from 52-week high to lower circuit
The auto ancillary stock rose nearly 55% since its IPO listing last week, after opening with fresh 52-week highs before dropping to the lower circuit.
Hero Motors Limited shares were highly volatile on Monday, climbing to a fresh 52-week high of ₹156.03 before reversing sharply to hit the lower circuit, after opening with new peak levels. LiveMint Markets said the move reflected heightened investor interest in automotive technology and powertrains.
The outlet reported that Hero Motors shares have gained nearly 55% since their listing last week, while the stock started trading at a discount of about 2.38% to its issue price of ₹84 per share. The IPO was listed on September 23 at ₹82 per equity share, also about 2.38% below the issue price.
Soon after listing, the stock fell to a 52-week low of ₹80.50 per share, before rebounding strongly to reach another 52-week high of ₹98.51 per share, according to the report.