Buy Hero MotoCorp, target Rs 2,800: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Hero MotoCorp Ltd. with a target price of Rs 2800. The current market price of Hero MotoCorp Ltd. is Rs 2690.05. Time period given by the analyst is Intra Day when Hero MotoCorp Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 2620. Hero MotoCorp Ltd., incorporated in 1984, has a market cap of Rs 53727.53 crore.

Hero MotoCorp Ltd. key Products/Revenue Segments include Motorised Two Wheelers Upto 350cc Engine Capacity which contributed Rs 29422.60 Crore to Sales Value (89.50 % of Total Sales), Spares (Two Wheelers) which contributed Rs 2578.06 Crore to Sales Value (7.84 % of Total Sales), Other Operating Revenue which contributed Rs 640.98 Crore to Sales Value (1.94 % of Total Sales) and Sale of services which contributed Rs 230.18 Crore to Sales Value (0.70 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 8185.66 Crore, up 2.92 % from last quarter Sales of Rs 7953.10 Crore and unchanged .00 % from last year same quarter Sales of Rs Crore Company has reported net profit after tax of Rs 1248.40 Crore in latest quarter. The company’s top management includes Mr.M Damodaran, Mr.Paul Edgerley, Mr.Pawan Munjal, Mr.Pradeep Dinodia, Mr.Suman Kant Munjal, Mr.Vikram S Kasbekar, Ms.Shobana Kamineni, Prof.Jagmohan Singh Raju. Company has BSR & Co. LLP as its auditoRs As on 30-06-2019, the company has a total of 199,726,884 shares outstanding.