Speaking on the occasion, Naidu said that the company would invest about Rs 1,600 crore in the first phase for making improved and latest versions of bikes. The two wheeler giant would also invest another Rs 1,600 crore for development of ancillary units here, Naidu said.
The facility, which will be the eighth manufacturing unit of the company, will have an annual installed capacity of 1.8 million units, to be achieved in three phases.
HMCL Netherlands BV, a wholly owned subsidiary of Hero MotoCorp, had formed the JV -- HMCL Colombia in 2014 holding 51 per cent stake with Woven Holdings LLC, a firm incorporated in the US.
VK Sharma, Head - PCG and Capital Market Strategy at HDFC Securities is of the view that one can buy Bank of Baroda and Titan Company.
Chandan Taparia of Motilal Oswal Securities recommends buying Hero MotoCorp, Bharat Forge and Asian Paints.
"The Nifty has formed 'Hammer' candlestick pattern indicating a short term reversal. Furthermore, on hourly scale, oscillators like RSI & MACD has given positive crossover which is a bullish sign," says Rajesh Agarwal of AUM Capital.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell Petronet LNG and buy Motherson Sumi Systems.
Powered by a 4-stroke single cylinder 125cc TOD (Torque-on-Demand) engine, the motorcycle features the efficient Hero i3S technology (idle stop and start system), the company said in a statement.
Nifty has formed two consecutive 'Doji' candlestick pattern on daily scale indicating indecisiveness at current level. It is hovering around 100 SMA of 10,440 levels. A congestion area has developed and the Nifty is seen oscillating in a capped range of 10380-10630 levels," says Rajesh Agarwal of AUM Capital.
The company had sold 5,24,766 units in the corresponding month last year, Hero MotoCorp said in a statement.
LKP Research is bullish on Hero MotoCorp has recommended buy rating on the stock with a target price of Rs 4097 in its research report dated February 07, 2017.
Mitessh Thakkar of mitesshthakkar.com suggests selling Ambuja Cements and HCC.
The motorcycle is Hero’s second new offering in the premium segment.
The RBI MPC is likely to continue slightly hawkish pause. "We continue to expect the RBI to persist with its slightly hawkish pause in its policy, on the side of caution. Inflation is likely peaking off to 5 percent in January from 5.2 percent in December with the vegetable price spike is expectedly reversing," BofAML said in a report.
Brokerage houses were mixed after earnings as some remained negative on the stock and some stayed positive with increased target price. Overall all are looking for more rural growth to happen.
Operating profit growth of 7.3 percent year-on-year at Rs 1,158 crore and margin contraction of 100 basis points at 15.9 percent were largely in line with CNBC-TV18 poll of Rs 1,150 crore and 16 percent, respectively.
Analysts expect a mixed bag for the company this quarter. Revenues may be strong due to 16 percent YoY increase in volumes.
Prabhudas Lilladher recommended accumulate rating on Hero Motocorp with a target price of Rs 4104 in its research report dated February 06, 2018.
The Union Budget 2018-2019 on increased spending on affordable housing, infrastructure, and rural economy along with no major changes in the direct taxation structure would be sufficient to sustain momentum in the markets, suggest experts.
Rajat Bose of rajatkbose.com is of the view that one can buy ITC and Hero MotoCorp and sell Wockhardt and Adani Ports.
Amid high valuations and a volatile macro environment, Credit Suisse recommends investors to focus on long-term structural themes that have been shaping up in India.
The company is the latest automobile firm after Hyundai, Nissan, Mahindra & Mahindra, Volkswagen, Maruti Suzuki India, Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu, to announce price hikes from early next year.
Through these new offerings, the company aims to further consolidate its position in the domestic motorcycle market, where it commands over 50 percent share.
The market breadth was in favour of the advances on Tuesday afternoon with 1308 stocks advancing as against 383 declines while 298 remained unchanged. On the other hand, 1831 stocks advanced and 775 stocks declined while 175 remained unchanged on the BSE.
Hero MotoCorp today reported 26.13 percent increase in sales at 6,05,270 units in November as against 4,79,856 units in the year-ago month.