Hero MotoCorp shares jump after auto major's strong Q4 results; investors ignore brokerages' 'sell' calls

Hero MotoCorp shares rose on Friday, a day after the two- and three-wheeler maker reported a strong set of Q4 results. The HEROMOTOCO stock was in high demand even ter major brokerages maintained a 'sell' rating on the company.   

Hero MotoCorp shares jump after auto major's strong Q4 results; investors ignore brokerages' 'sell' calls

Hero MotoCorp share price: Hero MotoCorp (HEROMOTOCO) shares rose on Friday, even as major brokerages gave a 'sell' rating on the auto major's stock.

On May 4, New Delhi-based Hero MotoCorp — whose popular models include Passion, Splendor and Xtreme — reported a standalone net profit of Rs 859 crore for the quarter ended March, marking year-on-year growth of 37 per cent.

The two- and three-wheeler maker's revenue increased 12 per cent to Rs 8,307 crore, according to a regulatory filing.

Brokerages UBS and Goldman Sachs each have a 'sell' rating on Hero Moto after the company announced its Q4 results, whereas Morgan Stanley held an 'underweight' call.

Hero MotoCorp target price

Brokerage Rating   Target price
UBS  Sell  Rs 2,400 
Goldman Sachs  Sell  Rs 2,170 
Morgan Stanley  Underweight  Rs 2,229 
Jefferies   Buy  Rs 3,000 
Citi   Buy  Revised to Rs 3,650 from Rs 3,300
Macquarie  Neutral  Rs 2,640 

Jefferies and Citi each kept a 'buy' rating on Hero MotoCorp

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

RECOMMENDED STORIES

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-444-day-amrit-vrishti-fd-vs-union-bank-of-india-sumvridhi-333-day-fd-maturity-return-interest-rate-calculator-amount-on-inr-rs-400000-lakh-and-800000-investment-for-general-senior-citizens-324056

SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens

https://www.zeebiz.com/personal-finance/news-sip-mutual-fund-power-of-compounding-retirement-corpus-planning-calculator-salary-inr-rs-25000-per-month-is-it-possible-to-create-over-26367030-fund-calculations-324366

Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations

https://www.zeebiz.com/markets/stocks/photo-gallery-stock-to-buy-for-long-term-on-new-year-samvat-2081-by-anil-singhvi-iifl-finance-share-price-target-nse-bse-smallcap-stock-324310

New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets

https://www.zeebiz.com/markets/stocks/photo-gallery-share-price-target-of-indian-oil-bharat-petroleum-hindustan-petroleum-largecap-psu-stocks-324329

PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?

https://www.zeebiz.com/personal-finance/photo-gallery-power-of-compounding-interest-mutual-fund-sip-retirement-corpus-planning-calculator-how-many-years-it-will-take-to-reach-inr-rs-20000000-with-3000-4000-and-5000-monthly-investment-market-linked-return-323948

Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000

https://www.zeebiz.com/personal-finance/news-retirement-planning-corpus-monthly-sip-investment-calculator-40-years-of-age-inr-rs-50000-expenses-what-will-be-retirement-money-inflation-rate-of-return-tips-strategy-324093

Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment

https://www.zeebiz.com/markets/stocks/photo-gallery-nifty-50-sensex-bse-500-long-term-shares-to-buy-largecap-midcap-smallcap-targets-bse-nse-324277

Stocks to Buy for Long Term: Largecap, midcap, smallcap shares analysts are positive on; check out target prices

https://www.zeebiz.com/personal-finance/photo-gallery-sbi-pnb-hdfc-bank-3-year-senior-citizen-fd-fixed-deposit-interest-rate-maturity-return-calculator-which-bank-gives-highest-on-inr-rs-500000-investment-state-bank-of-india-punjab-national-guaranteed-return-scheme-324094

Senior Citizen FD: SBI 3-year FD vs PNB 3-year FD vs HDFC Bank 3-year FD; which FD will give highest return on Rs 5 lakh investment

Written By: ZeeBiz WebTeam
Updated: Fri, May 05, 2023
09:50 AM IST
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Hero MotoCorp festive period sales up 13% at 15.98 lakh units Hero MotoCorp festive period sales up 13% at 15.98 lakh units
Hero MotoCorp sales rise 18% to 6.8 lakh units in October Hero MotoCorp sales rise 18% to 6.8 lakh units in October
Hero MotoCorp zooms past Rs 6,000 mark for first time ever; can you still ride the rally? Hero MotoCorp zooms past Rs 6,000 mark for first time ever; can you still ride the rally?
Export of electric bikes from India has lot of potential: Nitin Gadkari Export of electric bikes from India has lot of potential: Nitin Gadkari
Hero MotoCorp slapped with tax notice by Delhi GST authorities Hero MotoCorp slapped with tax notice by Delhi GST authorities

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x