NSE: HEROMOTOCO | BSE: 500182

Strong Performer, Getting Expensive

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5312.00 68.00 (1.30%)

58.85% Gain from 52W Low

998.8K NSE+BSE Volume

NSE 02 Sep, 2025 3:31 PM (IST)

106,276.1

Market Cap

Below industry Median

1.1

Beta 1Year

Average volatility

Rising Wholesales

Hero MotoCorp's monthly wholesale grow 8% YoY to 5.5 lakh units in August; exports up 72.1% YoY See details

Hero MotoCorp Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for HEROMOTOCO, BSE:500182 Hero MotoCorp Ltd.

Hero MotoCorp Ltd.

20 Feb 2020

5312.00

1.30%

Hero MotoCorp (REDUCE): Visit to HMCL's R&D centre key takeaways

Sell: Hero MotoCorp Ltd.

Target

BOB Capital Markets Ltd.

We visited Hero Moto's (HMCL) R&D; centre and attended its investor meet.

Hero MotoCorp Ltd. has gained 44.30% in the last 6 Months

Hero MotoCorp Ltd.

20 Feb 2020

5312.00

1.30%

Hero MotoCorp

Buy: Hero MotoCorp Ltd.

ICICI Securities Limited

CIT to play crucial role in HMCL premiumisation drive! HMCL houses ~1,000 engineers & automotive experts at its R&D; centres at CIT & Germany, which will help overcome its mass product brand perception though development of new and exciting products in the premium category. With the right product mix, HMCL is also well poised for its exports push and is undertaking new age marketing techniques to increase its brand quotient in the domestic market. At the event, HMCL also launched the BSVI refresh products under the Glamour & Passion family, which were indeed...

Hero MotoCorp Ltd. is trading above all available SMAs

Hero MotoCorp Ltd.

13 Feb 2020

5312.00

1.30%

Hero Motocorp (3QFY20): Results beat, recovery pushed back. Maintain BUY

Buy: Hero MotoCorp Ltd.

Target

HDFC Securities

Maintain BUY on Hero as (1) Hero has successfully defended market share in the 2W segment in the current downturn (2) The stock is trading at an attractive valuation of 15/14x FY20/21E; however, the extent of price hikes on BS-VI will delay the recovery in our view. We lower our target P/E multiple to 16x (vs. 18x earlier), which is in-line with its average historic trading multiple, to factor in a delayed recovery (2HFY21) and a slower than expected ramp up in the premium segment. Heros 3QFY20 EBITDA margin surprised at 14.8% despite weak volumes. However, the outlook over FY21 remains mixed as management expects a recovery only in 2HFY21 as customers get accustomed to price hikes (12-15%) on BS-VI models. Retain BUY with a revised TP of Rs 2,980 (16x on Dec-21 EPS).

Hero MotoCorp Ltd. has gained 23.20% in the last 1 Month

Hero MotoCorp Ltd.

11 Feb 2020

5312.00

1.30%

Result Review- Hero Motocorp

Hold: Hero MotoCorp Ltd.

Hem Securities

Hero MotoCorp is the World's single largest two-wheeler motorcycle company. The Company manufactures and sells motorized two wheelers up to 350 cubic centimeters (cc) engine capacity, spare parts and related services. Its manufacturing plants are located in Dharuhera, Gurgaon, Haridwar, Neemrana, Villa Rica (Colombia). Its research and development center is located in Jaipur, Rajasthan. It has a Global Parts Centre for manufacturing and supplying the parts at...

Hero MotoCorp Ltd. has gained 23.20% in the last 1 Month

Hero MotoCorp Ltd.

10 Feb 2020

5312.00

1.30%

Q3FY20 Result Review : Hero MotoCorp

Accumulate: Hero MotoCorp Ltd.

IDBI Capital

estimates of 13.5% and 12% respectively mainly on account of lower RM cost. We maintain our FY20/FY21 volume estimates and factored in increase realization on account of BSVI transition. We expect two-wheeler industry volumes to be weak in H1FY21, as cost increases (BSIV to BSVI transition) would hurt 2W industry demand. Due to recent change in share price we change our rating to ACCUMULATE (earlier HOLD) with TP of Rs2,700 based on PER of 17x FY21 earnings. Result Highlights and Investment Rationale Operationally strong quarter: Revenue declined -11%...

Hero MotoCorp Ltd. has gained 44.30% in the last 6 Months

Hero MotoCorp Ltd.

07 Feb 2020

5312.00

1.30%

Hero MotoCorp (REDUCE): Decent Q3 but outlook challenging

Sell: Hero MotoCorp Ltd.

Recommendation Target

BOB Capital Markets Ltd.

Hero Moto (HMCL) posted an operational beat in Q3FY20 led by healthy gross margins.

Hero MotoCorp Ltd. has gained 44.30% in the last 6 Months

Hero MotoCorp Ltd.

07 Feb 2020

5312.00

1.30%

Hero MotoCorp

Buy: Hero MotoCorp Ltd.

Target

ICICI Securities Limited

In the run up to the BS-VI changeover, pricing of products launched by 2-W OEMs thus far including HMCL have surprised us negatively. As against our expectation of ~10% price increase, actuals have tended to range between 13-15% on average. This, we believe, adds further pressure to a price sensitive market segment which is already suffering from subdued buyer sentiment given reduced propensity to spend and cost increase for safety features and upfront insurance. The domestic 2-W industry has registered 15.8% YoY 9MFY20 volume drop. While retail performance has improved in...

Hero MotoCorp Ltd. has gained 23.27% in the last 3 Months

Hero MotoCorp Ltd.

31 Oct 2019

5312.00

1.30%

Hero Motocorp

Hold: Hero MotoCorp Ltd.

Target

Sharekhan

Hero MotoCorp's (Hero) Q2FY2020 results were broadly in line with our estimates. Hero managed to marginally improve its margins on a q-o-q basis, driven by cost-control initiatives and softening commodity prices. While management indicated marginal growth in retail sales during the festive season, it stated the same may not be sustainable. Management also stated that a sustained recovery would take more time. Moreover, due to higher inventory, wholesale would continue to remain negative even in the festive period. Steep...

Hero MotoCorp Ltd. has gained 44.30% in the last 6 Months

Hero MotoCorp Ltd.

31 Oct 2019

5312.00

1.30%

HERO MOTOCORP LIMITED

Hold: Hero MotoCorp Ltd.

Recommendation Target

Geojit BNP Paribas

Hero MotoCorp is India's leading two-wheeler manufacturer in terms of unit volume sales in a calendar year. It holds nearly 50% market share in the Indian motorcycle market. The company has seven manufacturing facilities,...

Hero MotoCorp Ltd. has gained 23.20% in the last 1 Month

Hero MotoCorp Ltd.

25 Oct 2019

5312.00

1.30%

Hero MotoCorp: Q2FY20 Result Review

Accumulate: Hero MotoCorp Ltd.

Target

IDBI Capital

Hero MotoCorp (HMCL) Q2FY20 EBITDA margin was higher than our and consensus estimates. EBITDA margin for the quarter stood at 14.5% vs our and consensus estimates of 13.5% and 13.7% respectively. We expect weaker consumer sentiment, higher inventory and competitive intensity to put pressure on HMCL's volume growth. We factor slowdown in H1FY20 and cut our FY20/21 volume estimates by 10% each.We cut our revenue/earnings estimates by 9%/11% for FY20E and 10%/10% for FY21E. We...

Hero MotoCorp Ltd. has gained 44.30% in the last 6 Months

Is Hero MotoCorp Ltd. worth buying?

704 Votes:

Buy 77.41%

Sell 13.92%

Hold 8.66%

RESEARCH REPORTS

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