Buy Hero MotoCorp, target price Rs 3700: JM Financial
Hero MotoCorp with a target price of Rs 3700. The current market price of Hero MotoCorp is Rs 2928.5.
Hero MotoCorp, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 58653.53 Crore) operating in Auto sector.
Hero MotoCorp key Products/Revenue Segments include Motorised Two Wheelers Upto 350cc Engine Capacity, Spares (Two Wheelers), Other Operating Revenue, Sale of services and Duty Drawback for the year ending 31-Mar-2022.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 9076.55 Crore, up 4.67 % from last quarter Total Income of Rs 8671.82 Crore and up 6.74 % from last year same quarter Total Income of Rs 8503.07 Crore.
Company has reported net profit after tax of Rs 795.03 Crore in latest quarter.
Investment Rationale
Product pipeline remains robust with more new launches over the next few quarters. As per the brokerage, HMCL is strengthening its market position and seems to be making a strong comeback as an all-round 2W player.
