Buy Hero Motocorp, Target Price Rs 3500: MOTILAL OSWAL

Hello everyone,

Good news for all the investors. Read it till the end. 

Hero MotoCorp Ltd, a prominent automobile company with a large market capitalization, is scheduled to trade ex-dividend on July 27, 2023. The dividend declared is an impressive 1750%, amounting to Rs 35 per share with a face value of Rs 2 per equity share.

Let’s have a look at Hero Motocorp Stock’s performance

CMP as of 21 July 2023: 3107

Prev Close (20 July 2023): 3087

52-week Low: 2827

Points above 52-week low: 280

52-week High: 3206

Points away from 52-week High: 99

Market Capitalization: 61000 crore

Performance in the last 3 months: (April – May – June): Price opened at 2385 on 3rd April and closing price as of June end was 2910

That’s a whopping 22% return in the last 3 months. 

Approximately 8% return in last 1 year.

Dividend News: 

On May 4, 2023, the company made an official announcement regarding the declaration of dividends through a BSE filing. They recommended a final dividend of 1750%, which amounts to Rs. 35 per share with a face value of Rs. 2 per equity share. However, this dividend is subject to approval by the members at the Annual General Meeting (AGM). If approved, the dividend will be disbursed by September 8, 2023.

Financial Performance: 

In the quarter ending March 31, 2023, the company reported a consolidated total income of Rs. 8671.82 crore, showing a growth of 4.48% compared to the previous quarter’s total income of Rs. 8300.28 crore. Additionally, the company disclosed a net profit after tax of Rs. 845.51 crore for the latest quarter.

Motilal Oswal holds a positive outlook on Hero MotoCorp Ltd and has given it a “buy” recommendation with a target price of Rs. 3500 per share, indicating a potential return of 15%.

Disclaimer: The stock mentioned in this article is sourced from Motilal Oswal’s brokerage report. However, Financial Pulse News and the respective Brokerage House bear no responsibility for any losses resulting from decisions made based on the information provided in the article. We strongly recommend that users seek advice from certified experts before making investment decisions.

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