Buy Hero MotoCorp, target price Rs 6106: Axis Securities

Axis Securities has buy call on Hero MotoCorp with a target price of Rs 6106. The current market price of Hero MotoCorp Ltd. is Rs 5516.35.

Hero MotoCorp Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 110644.69 Crore) operating in Auto sector.

Hero MotoCorp Ltd. key Products/Revenue Segments include Motorised Two Wheelers Upto 350cc Engine Capacity, Spares (Two Wheelers), Sale of services, Other Operating Revenue and Duty Drawback for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 9794.01 Crore, down -2.37 % from last quarter Total Income of Rs 10031.43 Crore and up 12.94 % from last year same quarter Total Income of Rs 8671.82 Crore. Company reported net profit after tax of Rs 1018.03 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 34.76 per cent stake in the company as of 31-Mar-2024, while FIIs owned 28.93 per cent, DIIs 16.37 per cent.