The company made this announcement after market hours on Wednesday, 22 February 2012.

Meanwhile, the BSE Sensex was up 46.02 points, or 0.255 to 18,191.27.

On BSE, 4,961 shares were traded in the counter as against average daily volume of 58,124 shares in the past one quarter.

The stock hit a high of Rs 2,168.60 and a low of Rs 2,146.05 so far during the day. The stock had hit a record high of Rs 2,248 on 14 November 2011. The stock had hit a 52-week low of Rs 1377.95 on 23 February 2011.

The large-cap stock outperformed the market over the past one month till 22 February 2012, rising 9.87% compared with the Sensex's 8.4% gain. The stock had, however, underperformed the market in past one quarter, falling 1.17% as against Sensex's 12.95% gain.

India's largest motorcycle maker by sales has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

As part of the partnership, Hero MotoCorp (HMCL) will receive support in terms of cutting-edge technology and design to develop future models from Erik Buell Racing (EBR) -- the East Troy, Wisconsin-based firm, which specializes in designing and manufacturing powerful and high-speed motorcycles, HMCL said in a statement.

Commenting on the technological tie-up, Mr Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp said, It gives me immense pleasure to welcome Erik Buell to the exciting world of Hero MotoCorp. This is in keeping with my objective of quickly scaling up our own in-house R&D capabilities to a global two-wheeler technology power-house by leveraging a network of strategic international alliances. Erik and his team have been working closely with our engineers and designers to develop our next-generation range of products with cutting-edge technology and first-of-its-kind features.

Mr Munjal further said, The Indian two-wheeler industry is set to evolve, and it is only natural that as the market leader, we are driving this change. As a part of this plan, Erik is going to play an integral role in giving shape to some of my dream two-wheelers for the discerning youth of today. So my R&D team and Erik's team together have made some definitive progress in this direction, and we will hopefully be putting a few scorchers on the roads soon.

Commenting on the partnership, Mr Erik F Buell, Chairman & CTO, EBR, said, EBR is delighted to partner with a company as iconic as Hero MotoCorp. Both HMCL and EBR share the common commitment to manufacturing world-class two-wheelers with technology of the future. I have personally been deeply impressed with and inspired by Pawan's vision. He has given us a challenging brief, and our highly-motivated team is working towards giving shape to that dream. We look forward to designing technology solutions which are in line with contemporary global standards and also futuristic in their appeal and utility.

Through this alliance, HMCL will also for the first time enter the exciting world of international motorcycle racing. The company will mark its foray into the racing arena by sponsoring two teams viz 'Team Hero' and 'AMSOIL Hero' -- a first by any Indian two-wheeler company at the AMA Pro Racing National Guard Superbikes Championship, HMCL said. Popular young racer Danny Eslick will represent 'Team Hero' while another well-known racer Geoff May will represent team 'AMSOIL Hero' -- both riding on EBR 1190RS bikes, HMCL said in a statement.

EBR 1190RS is the flagship bike from EBR, and an exclusive engineering marvel, as EBR is producing only 100 inaugural units of these, including a handful of the carbon edition package. The EBR 1190RS is taking the American motorcycle racing world by storm with its performance, styling and handling, HMCL said. HMCL is also developing the concept hybrid scooter called 'Leap', showcased at the recently-concluded Auto Expo, in collaboration with EBR, the company said in a statement.

Hero MotoCorp's net profit rose 42.9% to Rs 613.03 crore on 16.9% growth in net sales to Rs 5983.55 crore in Q3 December 2011 over Q3 December 2010.

Hero MotoCorp is the world's largest two-wheeler manufacturer in terms of production capacity.

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