There have been media reports wherein Hero MotoCorp has been accused of raising Rs 1,000 crore bogus expenses, which the company in its clarification has denied. Hero’s corporate governance has always been top notch and it is unlikely that these accusations are true. Even if it is true, we believe it has already been factored in the price, and downside is limited given that the leader in two-wheeler space is available at a valuation of 13.4 times FY23 projected earnings.
first published: Apr 1, 2022 10:43 pm
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