We maintain our Buy rating on Hero MotoCorp with TP of Rs3,810 as the company reported a decent performance despite headwinds such as intense price war, increasing cost of ownership for 2Ws, expiry of Haridwar plant benefits and RM cost pressure. The management re-iterated their confidence of double digit growth in the industry considering favourable macros. To sharpen its edge over competition and plug the gaps in its product portfolio, the company has already launched its new premium segment bike Xtreme 200R and is all set to launch scooters with 125 cc. Q2FY19 performance was in-line with our estimates at operational levels, however PAT...