Buy Hero Motocorp; target of Rs 2938: Motilal Oswal

Brokerage house Motilal Oswal is bullish on Hero Motocorp and has recommended buy rating on the stock with a target price of Rs 2938, in its research report dated September 01, 2015.

September 03, 2015 / 18:06 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Motilal Oswal's report on Hero MotocorpHMCL’s Aug-15 volumes declined 14% YoY (-1.4% MoM) to 480,537 units (v/s est 530,679 units).We estimate volume growth of ~3.7% for FY16, implying residual growth of 11.3% or ~609k units.HMCL has lined up slew of new launches for upcoming festive season with two brand new scooters, followed by new exciting bikes.HMSI reported a sales of ~395k units up 1% YoY, with scooters sales being up 13% YoY to 246,750 units.The stock trades at 15.5/13x FY16/17 EPS of ~INR154/184. Maintain Buy.For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

first published: Sep 3, 2015 06:06 pm

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