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Why Hero MotoCorp stock is down 2% this week
Business
Hero MotoCorp's stock slipped 1.98% this week, closing at ₹5,288.5 on September 16—even though it's been on a wild ride, jumping 21.8% in the past three months.
Despite the dip, Hero MotoCorp is a heavyweight player
Even with this recent drop, Hero MotoCorp is still a heavy hitter: its market value tops ₹1.06 lakh crore and it saw major trading action last week.
The company has a solid track record too.
In the short term, it's all about profit booking
There isn't any big negative news about the company itself. Instead, investors might be cashing in profits after such a strong rally, or reacting to bigger shifts in the market and auto sector.
So while things look shaky short-term, Hero's long-term story still stands strong.