Buy Hero MotoCorp, target Rs 2,950: Manav Chopra

Manav Chopra of Indiabulls Ventures has a buy call on Hero MotoCorp Ltd. with a target price of Rs 2950. The current market price of Hero MotoCorp Ltd. is Rs 2842.5. Time period given by analyst is Intra Day when Hero MotoCorp Ltd. price can reach the defined target. Manav Chopra recommended to keep stoploss at Rs 2800. Hero MotoCorp Ltd., incorporated in 1984, has a market cap of Rs 56772.37 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 31-03-2019, the company has reported a Standalone sales of Rs 7884.96 Crore, up .26 % from last quarter Sales of Rs 7864.82 Crore and down -7.93 % from last year same quarter Sales of Rs 8564.04 Crore Company has reported net profit after tax of Rs 730.32 Crore in latest quarter. The company’s top management includes Dr.Anand C Burman, Mr.M Damodaran, Mr.Paul Edgerley, Mr.Pawan Munjal, Mr.Pradeep Dinodia, Mr.Ravi Nath, 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 31-03-2019, the company has a total of 199,726,884 shares outstanding.