We attended Hero MotoCorp's (HMCL) analyst meet where management reiterated its dual focus of making inroads into the premium segment and retaining its hold on the deluxe segment. While acknowledging immediate concerns from higher insurance costs, new ABS/CBS norms and cramped liquidity, HMCL believes India's macro climate is favourable. Management also remains optimistic on exports and expansion into newer markets. Macro climate favouring long-term industry growth: HMCL is optimistic on growth prospects of the 2W industry in the mid-to-long term, underpinned by...