Hero Motocorp in pact with Erik Buell Racing; stock up

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Hero Motocorp in pact with Erik Buell Racing; stock up

Hero Motocorp has entered in technology sourcing pact with Erik Buell Racing, reports CNBC-TV18.

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Hero Motocorp has entered in technology sourcing pact with Erik Buell Racing, reports CNBC-TV18.

"As part of the partnership, (Hero) will receive support in terms of cutting-edge technology and design to develop future models from Erik Buell Racing (EBR)," the company said in a statement.

Hero exited a 26-year-long joint venture with Japan's Honda Motor Co last March.

The share touched an intraday high of Rs 2,168.60 and an intraday low of Rs 2,146.05. At 09:18 hrs the share was quoting at Rs 2,152, up Rs 8.80, or 0.41%.
 
It was trading with volumes of 5,026 shares. In the previous trading session, the share closed down 0.14% or Rs 2.95 at Rs 2,143.20.

Sudarshan Sukhani of s2analytics.com said that, "Hero Motocorp has been a favorite. It does appear that it's going to remain in an outperformer. My target price for position traders is Rs 3000. So clearly I am pretty upbeat on it. Obviously this is not today's target price, but apart from that traders must buy this stock on every dip, on every breakout. It's going to do some very nice things."

The company's trailing 12-month (TTM) EPS was at Rs 104.77 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 20.52. The latest book value of the company is Rs 148.03 per share. At current value, the price-to-book value of the company was 14.52. The dividend yield of the company was 4.88%.

The share touched its 52-week high Rs 2,248.00 and 52-week low Rs 1,377.95 on 14 Nov, 2011 and 23 Feb, 2011, respectively. Currently, it is trading -4.27% below its 52-week high and 56.17% above its 52-week low. Market capitalisation stands at Rs 42,972.75 crore.