Hero MotoCorp (HMCL), the leading two-wheeler manufacturer in India, announced that the company has expected to clock close to 1.5 lakh in retail sales on Oct. 21, 2014, Dhanteras, which will be a 40-50% growth over the sales on Dhanteras day last year.

The festival of Dhanteras is a day for celebrating wealth. Dhan means wealth and Teras means the 13th day as per Hindu calendar.

On Dhanteras, people buy gold jewellery and also purchase new household products and vehicles.

Recently, the company announced that at Neemrana in the Northern Indian state of Rajasthan has gone on stream, in keeping with the company's vision to surpass 100 million units in cumulative production by year 2020. The plant will be officially inaugurated by the chief minister of Rajasthan Vasundhara Raje Scindia.

Shares of the company gained Rs 104.9, or 3.5%, to trade at Rs 3,100. The total volume of shares traded was 35,862 at the BSE (12.16 p.m., Wednesday).