Buy Hero MotoCorp: target of Rs 3210: Sharekhan

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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Hero is expected to benefit from premiumisation of its products, stronghold in the economy, executive motorcycle segments, and aggressive products offerings in premium bike and scooters segments. Hero’s roadmap for EV is convincing given its preparedness and investments in technology and strategic partnerships. The company has launched Vida brand for e-mobility solutions in March 2022. Post the stock price correction of 18.5% over the past six months, the stock is trading at comfortable valuations at a P/E multiple of 12x and EV/EBITDA multiple of 5.9x its FY2024E estimates, with attractive dividend yield of 4.8%.

We maintain Buy on Hero MotoCorp Limited (Hero) with a revised PT of Rs. 3,210, led by expected recovery in rural demand.

At 14:19 hrs Hero Motocorp was quoting at Rs 2,270.40, up Rs 7.30, or 0.32 percent.

It has touched an intraday high of Rs 2,314.90 and an intraday low of Rs 2,262.55.

It was trading with volumes of 7,525 shares, compared to its thirty day average of 39,611 shares, a decrease of -81.00 percent.

In the previous trading session, the share closed down 0.97 percent or Rs 22.15 at Rs 2,263.10.

The share touched its 52-week high Rs 3,089.00 and 52-week low Rs 2,148.00 on 09 June, 2021 and 08 March, 2022, respectively.

Currently, it is trading 26.5 percent below its 52-week high and 5.7 percent above its 52-week low.

Market capitalisation stands at Rs 45,365.30 crore.

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