Rs 35/Share Dividend: Auto Stock Trading Ex-Dividend Next Week, Motilal Oswal Upbeat

Large cap auto stock, Hero MotoCorp Ltd is all set to trade ex-dividend on July 27, 2023 for 1750% dividend i.e. Rs 35 per share of the face value of Rs 2 per equity share. Current market price of Hero MotoCorp share is Rs 3055.80 per share with intraday decline of 1.37%. Motilal Oswal remains upbeat on Hero MotoCorp Ltd and assigned buy call with target price of Rs 3500 per share implying potential return of 15%. Check details below:

Hero MotoCorp Stock Performance & Return: Current market price of Hero MotoCorp share is Rs 3055.80 per share on BSE. Its 52-week high price is Rs 3206.15 per share and 52-week low price is Rs 2246.75 per share, respectively. Its market capitalisation is Rs 61,067.61 crore. Hero MotoCorp stock offered 25% return in last 3-months, 8% return in last 1-year, rallied 7% in last 3-years, and fell 9% in last 5-years. Hero MotoCorp stock declined 3% in last 2-weeks.

Hero MotoCorp Dividend: The company declared dividend on May 4, 2023 and announced in the BSE filing, "Recommendation of final dividend subject to approval of members @ 1750% i.e. Rs. 35 per share (face value of Rs. 2 per equity share). The dividend, if declared at the ensuing AGM, will be paid by September 8, 2023."

Hero MotoCorp Valuation: According to Motilal Oswal, in its report dated June 12, 2023, "We have upgraded our EPS estimates for FY24E/FY25E by 5%/6% to factor in sustained volume recovery in the domestic market. 2W demand recovery in the domestic market is expected to sustain on a low base, led by good recovery in the urban market and gradual recovery in the rural market. HMCL is a pure play domestic 2W industry and its core strength lies in the 100cc motorcycle segment. We reiterate our Buy rating with a TP of INR3,500 (16x Jun-25 + INR231/sh for stake in NBFC business + INR116/sh for its stake in Ather Energy)."

Hero MotoCorp Financial Performance: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 8671.82 crore, up 4.48% from last quarter total income of Rs 8300.28 crore. It announced its net profit after tax at Rs 845.51 crore in latest quarter.

Hero MotoCorp About: The New Delhi, (India)-headquartered Hero MotoCorp has been the world's largest manufacturer of motorcycles and scooters in terms of unit volume sales in a calendar year as a single company since 2001. Over the past 10 years, the company has rapidly expanded its capacity, geographic footprint, customer touch points and R&D capabilities to emerge as a truly global brand, according to its official website.

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