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    500182   INE158A01026

HERO MOTOCORP LIMITED

(500182)
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End-of-day quote Bombay Stock Exchange  -  2022-08-15
2816.60 INR   +2.02%
06:38aIndia's NSE ends at four-month high, auto stocks drive gains
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05:44aNomura Adjusts Hero MotoCorp's Price Target to 2,876 Indian Rupees From 2,720 Indian Rupees, Keeps at Neutral
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01:20aIndian shares rise, NSE index at over four-month high
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Indian shares rebound as inflation worries ease, auto stocks gain

06/23/2022 | 01:46am EDT

BENGALURU, June 23 (Reuters) - Indian shares rose 1% on Thursday, as a fall in crude oil prices alleviated concerns about imported inflation, and investors scooped up auto stocks after recent declines.

The NSE Nifty 50 index rose 1% to 15,576.1 by 0515 GMT, while the S&P BSE Sensex also climbed 1% to 52,340.81. Both indexes had fallen 1.4% on Wednesday.

"Commodity prices are lower, especially oil, and that is relatively good for India as it is largely an importer. This could positively impact domestic inflation," said Narendra Solanki, head of research at Anand Rathi Investment Services.

Brent crude futures dropped more than 2% as investors recalibrated assessments of recession risks and fuel demand.

The U.S. Federal Reserve is not trying to engineer a recession to stop inflation, but is fully committed to bringing prices under control even if doing so risks a downturn, its chief Jerome Powell said on Wednesday.

Meanwhile, Reserve Bank of India Deputy Governor Michael Patra wrote in the latest Monetary Policy Committee minutes that the central bank has no choice but to raise interest rates to keep a lid on inflation expectations.

Among gainers on the Nifty, auto stocks jumped 3% in their biggest intraday rise in more than a month. Hero MotoCorp and Maruti Suzuki climbed more than 4% each.

With valuations starting to become attractive, auto stocks have done well, especially with metal prices on the decline, said Anand Rathi Investment's Solanki.

Financials also advanced, with the Nifty Bank index up 1.7%.

Shares of Quess Corp rose 4.1% after the company said it would buy all shares in unit Allsec Technologies it does not own for 1.86 billion rupees ($23.77 mln). Allsec shares surged nearly 14% to hit their highest in more than two weeks. (Reporting by Tanvi Mehta in Bengaluru; Editing by Shailesh Kuber and Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALLSEC TECHNOLOGIES LIMITED -3.65% 479.35 End-of-day quote.-25.12%
BANK OF INDIA LIMITED -0.30% 49.1 End-of-day quote.-4.38%
HERO MOTOCORP LIMITED 2.02% 2816.6 End-of-day quote.14.44%
LONDON BRENT OIL -0.17% 92.41 Delayed Quote.25.24%
MARUTI SUZUKI INDIA LTD 3.50% 9003.7 Delayed Quote.17.14%
NIFTY 50 0.72% 17825.25 Delayed Quote.1.98%
NIFTY BANK 0.42% 39239.65 Delayed Quote.10.04%
QUESS CORP LIMITED -1.40% 577.3 End-of-day quote.-32.49%
S&P GSCI BRENT CRUDE INDEX 0.11% 781.6179 Real-time Quote.21.21%
S&P GSCI CRUDE OIL INDEX 0.27% 473.4735 Real-time Quote.18.14%
SENSEX BSE30 0.64% 59842.21 Real-time Quote.2.73%
WTI -0.22% 86.801 Delayed Quote.21.55%
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Analyst Recommendations on HERO MOTOCORP LIMITED
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Financials
Sales 2023 347 B 4 371 M 4 371 M
Net income 2023 31 565 M 398 M 398 M
Net cash 2023 88 544 M 1 116 M 1 116 M
P/E ratio 2023 17,8x
Yield 2023 3,78%
Capitalization 563 B 7 096 M 7 096 M
EV / Sales 2023 1,37x
EV / Sales 2024 1,18x
Nbr of Employees 9 173
Free-Float 63,2%
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Number of Analysts 0
Last Close Price 2 816,60
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Pawan Kant Munjal Chairman & Chief Executive Officer
Niranjan Gupta Chief Financial Officer
Arun Jaura Chief Technology Officer
Reema Jain Chief Information & Digital Officer
Michael J. P. Clarke Chief Operating & Human Resources Officer
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