Sell Hero MotoCorp, target Rs 2,470: Arun Kumar

Sell Hero MotoCorp Ltd. at a price target of Rs 2470.0 and a stoploss at Rs 2645 from entry point.

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Arun Kumar of Reliance Securities has a sell call on Hero MotoCorp Ltd. with a target price of Rs 2470. The current market price of Hero MotoCorp Ltd. is Rs 2593.15. Time period given by the analyst is Intra Day when Hero MotoCorp Ltd. price can reach defined target. Arun Kumar recommended to keep stoploss at Rs 2645. Hero MotoCorp Ltd., incorporated in 1984, has a market cap of Rs 51794.86 crore.

Hero MotoCorp Ltd. key Products/Revenue Segments include Motorised Two Wheelers Upto 350cc Engine Capacity which contributed Rs 29693.52 Crore to Sales Value (88.24 % of Total Sales), Spares (Two Wheelers) which contributed Rs 2835.97 Crore to Sales Value (8.42 % of Total Sales), Sale of services which contributed Rs 595.04 Crore to Sales Value (1.76 % of Total Sales) and Other Operating Revenue which contributed Rs 526.01 Crore to Sales Value (1.56 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 7660.27 Crore, down -6.42 % from last quarter Sales of Rs 8185.66 Crore and down -16.44 % from last year same quarter Sales of Rs 9167.86 Crore Company has reported net profit after tax of Rs 869.78 Crore in latest quarter. The company’s top management includes Mr.M Damodaran, Mr.Paul Edgerley, Mr.Pawan Munjal, Mr.Pradeep Dinodia, Mr.Suman Kant Munjal, Mr.Vikram S Kasbekar, Ms.Shobana Kamineni, Ms.Tina Trikha, Prof.Jagmohan Singh Raju. Company has BSR & Co. LLP as its auditoRs As on 30-09-2019, the company has a total of 199,726,884 shares outstanding.
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