Hero MotoCorp, the world's largest two-wheeler manufacturer, will be increasing the ex-showroom prices of its motorcycles, starting January 1, 2018, to partially off-set the rising input costs.

The price hike translates to about Rs 400 per model. The exact quantum of the increase will vary, basis the model and the specific market. 

The stock had outperformed the market over the past one month till Dec. 21, 2017, rising 2.24% compared with the Sensex's 0.83% rise. It underperformed the market in past one quarter, declining 3.05% as against 4.28% rise in the Sensex.

Shares of the company declined Rs 19.45, or 0.51%, to trade at Rs 3,789.55. The total volume of shares traded was 14,403 at the BSE (3.21 p.m., Friday).