Hero MotoCorp share price rose 2 percent in early trade on May 7 after the company reported robust numbers for the quarter ended March 2021.
Two-wheeler maker on May 6 reported healthy growth in March 2021 quarter earnings as standalone profit shot up 39.4 percent year-on-year (YoY) to Rs 865 crore, driven by strong revenue and operating performance.
Revenue from operations grew by 39.2 percent YoY to Rs 8,686 crore with 18.5 percent volume growth for the March 2021 quarter.
Here is what brokerages have to say about the stock and company after the March earnings:
Citi | Rating: Buy | Target: Rs 4,000
The Q4 results were ahead of estimates. Improving mix & cost reduction initiatives appear to be yielding results. The 2% cuts in volume estimates over FY22-23 offsets much better realisations. Citi raised EBITDA estimate by 1% & 2% in earnings estimates.
Goldman Sachs | Rating: Neutral | Target: Rs 3,100
The Q4 was ahead of expectations, led by surprise revenue beat, possibly by spares. The higher/lower-than-expected growth for entry-level motorcycles is a key risk. The rural demand will also be in focus.
At 09:27 hrs, Hero MotoCorp was quoting at Rs 2,902.25, down Rs 10.75, or 0.37 percent on the BSE.
The share touched a 52-week high of Rs 3,628.55 and a 52-week low of Rs 1,918.00 on 18 February, 2021 and 28 April, 2020, respectively.
Currently, it is trading 20.02 percent below its 52-week high and 51.32 percent above its 52-week low.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.