Following an almost 76 percent rise in the stock in the last 1 year, domestic brokerage house Axis Securities has picked auto major Hero MotoCorp as its top pick of the week .
Hero MotoCorp reported a significant sales milestone for January, with 433,598 units sold, reflecting a 22% growth compared to January 2023. Domestic sales came in at 420,934 units, while exports stood at 12,664 units.
The correction comes on the back of a three-session rally in Hero MotoCorp that led to a 52-week high of Rs 4,560 on Tuesday. The previous session s gains were after the two-wheeler company launched The Mavrick 440 motorcycle in the upper premium segment.
Shares of Hero MotoCorp, the world s largest manufacturer of motorcycles and scooters, crossed ₹4,000 apiece in today s trade after six years. It is just 0.60% away from its all-time high of ₹4,091 per share.