Buy Hero MotoCorp, target price Rs 2850: Kotak Securities

Kotak Securities has buy call on Ltd. with a target price of Rs 2850. The current market price of Hero MotoCorp Ltd. is Rs 2763.1. Time period given by analyst is Intra Day 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 55213.93 Crore) operating in Auto sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 5648.20 Crore, down -35.51 % from last quarter Total Income of Rs 8758.01 Crore and up 81.08 % from last year same quarter Total Income of Rs 3119.22 Crore. Company reported net profit after tax of Rs 392.01 Crore in latest quarter.

Investment Rationale
Stock in oversold territory near multiple support area hence reversal likely for new leg of uptrend.

Promoter/FII Holdings
Promoters held 34.8 per cent stake in the company as of June 30, 2021, while FIIs held 35 per cent, DIIs 20.2 per cent and public and others 10.1 per cent.