Hero MotoCorp and Ather Energy on December 6 announced a partnership for interoperable fast-charging networks in India. This collaboration allows EV users to seamlessly access both VIDA and Ather grids across the country, covering 100 cities with over 1900 fast-charging points. After this news, Hero MotoCorp shares kept trading with a decline of about 2 percent.

Earlier in the day, brokerage firm CLSA had downgraded Hero MotoCorp shares to 'overweight' from previous 'buy' rating, citing fair valuations following the recent bullish trend. The brokerage has set the price target for the share at Rs 4,127.

In November, the domestic two-wheeler segment experienced strong demand during the festive season, resulting in a growth of around 20-21 per cent year-on-year. In November, Hero Moto volumes increased by 26 percent year-on-year. Additionally, the company gained market share in November, benefiting from supply-chain problems faced by Honda, which led to out-of-stocks of key models during the festive season. Analysts at Kotak Institutional Equities have recorded this gain in market share.