Buy Hero MotoCorp, target price Rs 3042: ICICI Securities

ICICI Securities has buy call on Hero MotoCorp with a target price of Rs 3042. The current market price of Hero MotoCorp is Rs 2518.25. Time period given by analyst is one year when Hero MotoCorp Ltd. price can reach defined target.

Hero MotoCorp Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 49967.97 Crore) operating in Auto sector.

Hero MotoCorp Ltd. key Products/Revenue Segments include Motorised Two Wheelers Upto 350cc Engine Capacity, Spares (Two Wheelers), Other Operating Revenue, Sale of services and Duty Drawback for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 7627.99 Crore, down -6.21 % from last quarter Total Income of Rs 8133.30 Crore and down -12.90 % from last year same quarter Total Income of Rs 8758.01 Crore. Company reported net profit after tax of Rs 640.87 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 34.75 per cent stake in the company as of 31-Mar-2022, while FIIs owned 43.02 per cent, DIIs 10.44 per cent.