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Last Updated : Feb 01, 2019 08:55 AM IST | Source: Moneycontrol.com

Hero MotoCorp Q3 review: Should you buy, sell or hold the stock?

The country's largest two-wheeler maker reported 4.5 percent decline in its standalone profit after tax (PAT) to Rs 769.1 crore for the third quarter ended December 31, 2018.

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Brokerages are upbeat about Hero MotoCorp, expecting the stock to rerate on turnaround in demand.

The country's largest two-wheeler maker reported 4.5 percent decline in its standalone profit after tax (PAT) to Rs 769.1 crore for the third quarter ended December 31, 2018.

The company had posted a PAT of Rs 805.43 crore for the same period previous fiscal, Hero MotoCorp said in a regulatory filing.

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Total income from operations for the quarter under review stood at Rs 8,052.46 crore as against Rs 7,424.23 crore in the same period last fiscal, it added.

Here’s what brokerages are saying about the stock.

Brokerage: Credit Suisse | Rating: Upgrade to Outperform | Target: Rs 2,990

The brokerage expects stock to be rerated as demand turns. It has cut FY19 estimates by 6.8% on sharp slowdown in volume in H2 & impact on margin. It finds valuations, at 13 times FY20 to be reasonable.

Brokerage: Nomura | Rating: Neutral | Target: Rs 2,802

Nomura observed that the Q3 was in line, while inventories have risen. It also observed that rural demand is picking up.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on Moneycontrol are their own, and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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First Published on Feb 1, 2019 08:54 am
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