Hero MotoCorp lines up Rs 1,500 cr capex for current fiscal

Two-wheeler major Hero MotoCorp has more than doubled its capex for the current fiscal to Rs 1,500 crore, mainly to upgrade its portfolio to conform to BS-VI emission norms and for its upcoming plant in Andhra Pradesh, a senior company official said Monday.

The capital would also be utilised for the development of new products.

"We have earmarked a capex of Rs 1,500 crore this fiscal. It will be utilised for Andhra plant, BS-VI upgradation and usual things like new product development," Hero MotoCorp CFO Niranjan Gupta told reporters here.

The country's largest two-wheeler maker had earmarked Rs 700 capex in 2018-19.

The company, which is trying consolidate its position in the premium segment, Monday launched two new scooters to cater to both, domestic as well as international markets.

It introduced Maestro Edge 125 with fuel injection technology priced at Rs 62,700. The company claimed it is India's first scooter with fuel injection technology.

The variants of Maestro Edge 125 with .