Hero MotoCorp Q3 results today: share price touches 52-week highs, Should you Buy, Sell or Hold the stock?
Hero MotoCorp share price with gains of more than 1.5% touched 52-week highs on Friday. The stock is in a uptrend having risen more than 88% in last 12 months. The investor sentiments on Hero MotoCorp remain upbeat after strong festival season sales seen by the two-wheeler manufacturers during the festive season.
As channel inventories reduced in November, the pick up in wedding season sales thereafter further lifted wholesale volumes of manufacturers as Hero MotoCorp. The recovery in rural demand also bodes well for Hero MotoCorp's range of entry level motorcycle sales. Analysts at Motilal Oswal Financial Services in their Q3 preview report said that, we are already witnessing a reversal in demand patterns, especially in the two wheelers, wherein we anticipate a high growth potential.
As compared to other categories, two wheelers have a relatively better scope for growth over FY23-26. Hero MotoCorp remains their top pick in the space. Also Read- IndiGo, SpiceJet share price dip: route-specific capping of airfares proposed For Hero MotoCorp volumes grew 18% year on year due to healthy recovery in the domestic market.
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