The breadth of the market favoured the declines with 782 stocks advancing and 904 declining while 379 remained unchanged. On the BSE, 1053 stocks advanced, 1371 declined and 125 remained unchanged.
The board of directors, on January 31, declared an interim dividend of Rs 55 per share of Rs 2 each (at the rate of 2,750 percent) for the financial year 2018-19.
Dolat Capital recommended accumulate rating on Hero MotoCorp with a target price of Rs 3066 in its research report dated February 01, 2019.
The breadth of the market favoured the declines with 658 stocks advancing and 1029 declining while 369 remained unchanged. On the BSE, 868 stocks advanced, 1389 declined and 128 remained unchanged.
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.
In light of sluggish near-term outlook, we believe the stock will have limited upside, although we have a positive long-term view on the stock.
The company had posted a PAT of Rs 805.43 crore for the same period previous fiscal, Hero MotoCorp said in a regulatory filing.
Edelweiss Securities expects revenue growth of 6.5 percent YoY, largely driven by volume growth of 5 percent YoY and higher realisations.
It will operate in tandem with Hero's Global R&D hub, the Center of Innovation and Technology (CIT) in Jaipur, the company said in a statement.
Net Sales are expected to increase by 5.7 percent Y-o-Y (down 14.9 percent Q-o-Q) to Rs. 7,732.2 crore, according to Motilal Oswal.
This is the verbatim transcript of Hero MotoCorp management call with analysts.
The company, which ended last year with record sales of over 80 lakh units, said the reduction in tax would provide much-needed relief to two-wheeler customers across the country.
Sharekhan recommended Hold rating on Hero MotoCorp with a target price of Rs 3675 in its research report dated December 21, 2018.
Hero stock has rallied 23 percent from October 25, 2018 as investors expect rural benefit for the company.
The mid and the small-cap space is playing catch up to the heavyweights. It is advisable to have a mix of both in your trading portfolio.
The research house expects Hero Motocorp to rally 23 percent to Rs 3,750 over a period of one year.
We recommend buying the stock at CMP for the target of Rs 3,250 and keeping a stop loss placed at Rs 2,910 on a closing basis, says Vinay Rajani of HDFC Securities.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 28 points or 0.26 percent
There is some caution ahead of the outcome of the RBI's monetary policy review meet which triggered profit-taking as the session progressed, suggest experts.
Most experts feel that this week is likely to remain volatile ahead of MPC meet outcome and outcome of state elections which is due next week.
Hero MotoCorp had sold 6.05 lakh units in November 2017
Hero MotoCorp chairman Pawan Munjal said, "Tiger is one of the greatest athletes in the history of sports. His persona transcends geographical, cultural and generational boundaries. We have had a mutually rewarding association with him over these past four years.