The brokerage recommends buying Hero Moto in cash at ₹3,170 and add up to ₹3,080 for a target price of ₹3,620 for a duration of 1-3 months. This target indicates an upside of 14.5 percent.
Hero MotoCorp share price: For the June quarter (Q1 FY24), the motorcycle maker's profit, year-on-year, rose 32 per cent to Rs 825 crore. Revenue from operations rose 4.50 per cent to Rs 8,767 crore, while earnings margin before interest, taxes, depreciation and amortization rose to 13.80 per cent from 11.20 per cent a year before.
Stocks to buy or sell today: Stock brokerages recently came out with research reports on select stocks namely Tata Motors, Bajaj Finance, Hero MotoCorp and Clean Science & Technology. Tata Motors, Hero MotoCorp and Clean Science received Buy ratings from individual brokers while Bajaj Finance received a Sell recommendations from Investec. Analyst targets on three of these stocks suggest up to 55 per cent potential upside over the next 12 months. Find out more in this Business Today Visual Story.
The company posted a 10 per cent decline in its profit to Rs 716 crore for the second quarter ended September 30 as against Rs 794 crore in the year-ago period.