Renowned financial services firm Jefferies has upgraded the large cap Auto Sector stock, Hero MotoCorp Ltd to "buy" from "hold". In its latest report, Jefferies has assigned buy rating with a target price of Rs 3000. If investors buy the stock at its current market price of Rs 2623, they can expect a potential return of 14%.
The shares are currently trading at a discount of 11.08% from 52-week high range. Check key takeaways below:
1. Hero MotoCorp Forays Into Electric Segment With Launch Of VIDA V1
Hero MotoCorp today forayed into the electric vehicle segment with the launch of its first electric scooter VIDA V1 priced at Rs 1.45 lakh.
It launched two trims of the scooter -- VIDA V1 plus and VIDA V1 Pro -- tagged at Rs 1.45 lakh and Rs 1.59 lakh, respectively. The VIDA V1 Plus comes with a range of 143 kilometres, while the VIDA V1 Pro comes with enhanced range 165 kms on a single charge.
2. Hero MotoCorp Stock Outlook
The last trading price of Hero MotoCorp is Rs 2623 apiece with an intraday dip of 0.84%. The stock's 52-week high is Rs 2950 apiece and 52-week low is Rs 2148 apiece, respectively. The stock is currently trading at a discount of 11% from its 52-week high range. Investors have the opportunity to buy the stock at 11% cheaper price.
3. Hero MotoCorp Market Capitalisation
The current market capitalisation of the company is Rs 52,428.36 crore as of October 7, 2022.
4. Hero MotoCorp 5-Years Return
The stock has fallen 29% in the last 5 years, 1.83% in the last 3 years, and 7.63% in the last 1 year. However, it has gained 3% in last 1 week.
5. Hero MotoCorp Latest Quarterly Result
The company for the quarter ended June 30, 2022 announced a consolidated total income of Rs 8,503 crore, up 11% from last quarter total income of Rs 7627 crore. It declared a net profit after tax at Rs 606 crore in the latest quarter.
6. Hero MotoCorp About
Hero MotoCorp is the dominant market leader in India - the world's largest two-wheeler market - with over 50% share in the domestic motorcycle market. Hero MotoCorp has eight globally benchmarked manufacturing facilities, including six in India and one each in Colombia and Bangladesh.
The stock has been picked from the brokerage report of Jefferies. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.