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Hero Motocorp reported a 10.8% YoY increase in Q2FY25 standalone revenue, surpassing estimates, driven by improved product mix and spares revenue. Gross profit rose by 17.4%, with margins expanding to 33.3%. Despite a revised target price of Rs 5,162, the company is well-positioned to benefit from rural demand and export growth.
Benchmark indices Nifty and Sensex continued their decline for the seventh consecutive session, with the Nifty dropping below 23,400 amid a significant downturn in IT stocks. Concerns over slower US interest rate cuts and rising import prices have shifted market sentiment from "buy the dip" to "sell on the rise." As of 10 am, the Sensex was down 390.49 points at 77,189.82, while 1,131 shares advanced and 2,132 shares declined.
Hero MotoCorp shares surged 5% on November 18 after brokerages, including Jefferies and Nomura, reaffirmed their 'Buy' ratings, driven by a recovery in rural demand, upcoming product launches, and margin improvements. Nomura raised its target price to Rs 5,805, citing strong Q2 results that exceeded expectations, and highlighted growth potential from new premium bikes and EV launches, alongside plans to expand its network while maintaining a 14-16% margin range.
Markets are set to experience notable movements this week, with particular attention on Hero Moto and Glenmark. Investors are encouraged to stay informed and receive updates on their transactions through push notifications for relevant content.
Jefferies has reduced its target for Hero MotoCorp to ₹5,500 per share, citing in-line Q2 results and concerns over market share decline and demand shifts. Meanwhile, Nomura maintains a buy call with a target of ₹5,805, highlighting rural market improvements and potential for margin growth as new EV models are introduced. Both firms expect strong double-digit growth in India's 2-wheeler market over the next three years.
Hero MotoCorp, Glenmark, Adani Total Gas, IGL, Cyient, ACME, Delhivery, Crompton Greaves, and Honasa Consumer are in focus for Monday's trading session. Additionally, Godavari Biorefineries, Waaree Energies, Valecha Engineering, and Samyak International are set to release their quarterly earnings on November 18.
Hero MotoCorp reported a 14% increase in net profit for Q2, reaching Rs 1,204 crore, driven by a significant rise in volumes. Revenue also rose by 11% year-on-year to Rs 10,463 crore, surpassing analysts' expectations. The EBITDA margin improved by 40 basis points to 14.5%.
On November 14, 1,181 companies, including Hero MotoCorp, HAL, and Glenmark, are set to report their Q2 earnings, reflecting diverse sectoral trends. Eicher Motors achieved record revenue despite a slight sales volume decline, while Vodafone Idea reported a narrowed net loss amid a shrinking subscriber base. The market showed signs of recovery after recent declines, with the BSE Sensex and Nifty 50 gaining points in early trading.
Nifty and Sensex continued their decline for a second consecutive session on October 31, influenced by weak global cues, particularly from the US economy. The Sensex fell by 87.90 points to 79,854.28, while the Nifty dropped 10.60 points to 24,330.20. Despite domestic investors buying the dips, market sentiment is expected to remain negative until foreign institutional investors reduce their selling.
US stock indexes closed lower as chip stocks fell, with the Dow down 91.51 points, the S&P 500 down 19.25 points, and the Nasdaq down 104.82 points. GIFT Nifty indicates a weak start for Indian markets, with a projected loss of 98 points. The Nifty 50 has been consolidating between 24,100 and 24,500, while recent trading saw the Sensex drop 426.85 points amid selling in banking, metal, and IT sectors.
Hero MotoCorp Limited
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