Motilal Oswal has issued a “buy” recommendation for Hero MotoCorp Ltd. with a target price of Rs 3630. Currently, the stock is trading at Rs 3021.9.
Hero MotoCorp Ltd. is a prominent player in the automotive industry, operating as a Large Cap company with a market capitalization of Rs 60711.89 Crore.
The company’s key revenue segments include Motorised Two Wheelers with engine capacities up to 350cc, Spares for Two Wheelers, Other Operating Revenue, Sale of services, and Duty Drawback. For the quarter ending on June 30, 2023, Hero MotoCorp reported a consolidated total income of Rs 9076.55 Crore, marking a 4.67% increase compared to the previous quarter and a 6.74% increase compared to the same quarter last year. The company also reported a net profit after tax of Rs 795.03 Crore in the latest quarter.
As of June 30, 2023, the promoters of Hero MotoCorp held a 34.77% stake in the company, while foreign institutional investors (FIIs) owned 28.1% and domestic institutional investors (DIIs) held 13.1%.
Investors considering Hero MotoCorp as a potential investment may find Motilal Oswal’s “buy” recommendation and target price of Rs 3630 to be valuable information as they make their investment decisions.