Hero MotoCorp reports Q2 profit up 14%, with brokers maintaining "Buy" ratings despite stock drop.

Hero MotoCorp, India's top two-wheeler maker, reported a 14% rise in net profit to Rs 1,204 crore in Q2, with revenue up 11% to Rs 10,463 crore. The company hit a record quarterly revenue from parts and accessories at Rs 1,456 crore. Despite a 26% drop from its 52-week high, brokerages like Nomura and Jefferies maintain a "Buy" rating, expecting industry growth of 10% over FY25-26 due to favorable monsoon conditions and rural market recovery.

November 18, 2024
7 Articles