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What triggered a dip of 3.43% in Hero MotoCorp shares in 2 days as it registered sales of 4.87 lakh unit?
World's largest manufacturer Hero MotoCorp has registered sales of 4,86,704 units in May 2022. The company is the largest manufacturer of motorcycles and scooters.
World's largest manufacturer Hero MotoCorp has registered sales of 4,86,704 units in May 2022. The company is the largest manufacturer of motorcycles and scooters. There is surge of 16% over the month of April 2022 when the company logged sales of 418,622 units. Today the shares of Hero MotoCorp figured in the list of top losers. Below are some factors:
How shares of Hero MotoCorp traded today?
Today shares of Hero MotoCorp witnessed a decline of 3.45% to close at 2,663.10 apiece. Yesterday the shares of the company recorded a dip of 0.59%. Shares of the Hero MotoCorp closed at 2,663 10 on the NSE after a decline of 3.43%. The scrip opened at 2734 and touched the intraday high and low of 2733 and 2640, respectively.
The shares of Hero MotoCorp touched the 52-week high of 3090 and 52-week low of 2146. The shares have hit the upper price band of 2930.30 and lower price band of 2397.60. The total market cap of Hero MotoCorp is Rs 53,213 crore at the time of writing this report.
What brokerages are saying about Hero MotoCorp?
According to HDFC Securities, investors can buy the shares of Hero MotoCorp at a target price of 3069. The brokerage has given a time of six months when the shares of Hero MotoCorp can accomplish the specified target. Analysts hope that the shares of Hero MotoCorp gain up to 10% in 6-7 months period, amid a boost in exports and the company is going to benefit in rural areas.
As the share is on a decline, it can be advantageous to invest in the shares of Hero MotoCorp. It is expected to give good returns in the six months period, according to HDFC Securities.
Key Financials
Hero MotoCorp reported its Q4 FY 2022 results on May 4, 2022. It reported a 27.5% dip in standalone net profit at Rs 627.05 crore for Q4 ended March 31, 2022 amid weak volumes. It has registered a net profit of Rs 864.97 crore in the previous financial year.
About Hero MotoCorp
The company was known by the name of Hero Honda. It is a leading multinational motorcycle and scooter manufacturer. It is headquartered in New Delhi. It has also emerged as the largest two-wheeler manufacturer in India as well as world. It is one of the largest corporate promoters of multiple disciplines in sports all over the globe. Hero MotoCorp is associated with Golf, Football, Field Hockey, and Cricket for more than 20 years now.
