Hero Honda slips 4 pct on BSE

The country's largest two-wheeler maker,Hero Honda,fell 4.26 per cent on the BSE.

The country’s largest two-wheeler maker,Hero Honda,fell 4.26 per cent on the BSE after it reported a dip in June quarter profit.

Shares of Hero Honda declined 4.26 per cent to hit a one-month low of Rs 1,790.65 on the Bombay Stock Exchange.

The scrip was trading at Rs 1,822,down 2.59 per cent,at 1053 hrs.

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The scrip fell on the National Stock Exchange as well and was quoting at Rs 1822.25,down 2.78 per cent.

Yesterday,the company had reported a 1.68 per cent decline in its profit after tax for the quarter ended June 30,at Rs 491.69 crore.

“The results were below expectations as the bottom line was hit due to rise in commodity prices. In the last few sessions good amount of profit-taking has also taken place,”

Ashika Stock Brokers research head Paras Bothra said.

The broader market Sensex was trading lower at 17,959.49,down 32.51 points.

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