Mumbai: Shares of Hero MotoCorp Tuesday ended with nearly 4 percent losses, wiping-out Rs 2,033.5 crore from its market valuation, after the company reported 5.41 percent decline in sales in May.
The stock settled at Rs 2,607.85, down 3.76 percent from its previous close on the BSE. During the day, it lost 3.99 percent to Rs 2,601.35.
At the NSE, it fell by 3.74 percent to Rs 2,608.60.
The market valuation of the company fell by Rs 2,033.5 crore to Rs 52,075.50 crore.
India's largest two-wheeler maker had yesterday reported 5.41 percent decline in sales at 5,69,876 units in May. The firm had sold 6,02,481 units in the same month last year.
The company said there has been a slowdown in rural economy and moderating wages in the rural market but it has managed to "consistently report over five lakh unit sales month-on-month".
Meanwhile, in the broader market, the benchmark BSE Sensex tanked 660.61 points at 27,188.38.
