Hero Motocorp Shares Recover After Weak Opening

Shares of Hero MotoCorp fell nearly 3%, the steepest intraday decline in four sessions, after the company reported net income that met the average analyst estimate, for the quarter ended December, post market hours Thursday.

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  • The stock pared almost all the opening losses
  • Analysts remained optimistic of Hero Motocorp’s growth prospects.
  • They expect volumes to recover, going forward, aided by rural demand and marriage season sales.
  • Of the 50 analysts tracking the company, 32 maintain ‘buy’, 14 recommend ‘sell’ and four suggest ‘sell’. The overall consensus price of analysts tracked by Bloomberg implies an upside of 14.7%.

Source: Exchange Filing, Bloomberg, Brokerage Notes

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