The two-wheeler industry in India has seen a decline in sales due to rising prices and the pandemic's economic impact. Sales of motorcycles, scooters, and mopeds fell nearly half to 13.58 million units in FY22. However, rural markets are showing signs of a turnaround, with moderating inflation and improved disposable incomes. Motorcycles continue to dominate two-wheeler sales in India, accounting for about 65% of the market. The growth in rural sales is driven by pen-up demand, moderating inflation, and a stable job market.

The company also recorded its highest-ever festive sales, clocking more than 14 lakh units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj – this year.

Biggest gainers on the Nifty included NTPC, ITC, L&T, Britannia Industries and Axis Bank, while losers were Hero MotoCorp, HDFC Life, Wipro, M&M and SBI Life Insurance.

Approaching its all-time highs, the index's upside potential could extend to 20,200, followed by 20,400.

In Wednesdays trading session, the following five stocks witnessed a build of fresh long positions.

Hero MotoCorp, India's largest two-wheeler maker, witnessed a 26% growth in its secondary network, primarily based in tier II and III cities and rural areas, during the 42-day festive period ending on November 15. The company reported an overall 20% YoY increase in sales, reaching a record 1.4 million units during the festive season.

Investors have given a thumbs up to the companys performance, with its share price on a steady northward movement. Hero MotoCorp CEO Niranjan Gupta deep dives into the strategies the company is undertaking to reinvent itself in a free-wheeling conversation with Sharmistha Mukherjee.

“Adani Power is one stock which looks really good at these levels.It has formed almost fresh 52-week highs. The indicators have turned bullish and now Adani Power on the lower side has crucial support levels of Rs 406 and as long as those levels are held, there can be good upside potential targets of almost Rs 530-560 on an immediate basis.”

Short-term traders can look to buy the stock now for a possible target to 3600 levels in the next 3-4 weeks, suggest experts.

Hero Motocorp's stock has regained investor interest due to rising premiumisation-led earnings growth and higher two-wheeler volume growth. The company's premium bike segment, including Karzima and Harley-Davidson bikes, has seen a 30% increase in its portfolio. The average selling price per unit was Rs 66,680 in Q2 2024, the highest ever.

Hero Motocorp's stock has regained investor interest due to rising premiumisation-led earnings growth and higher two-wheeler volume growth. The company's premium bike segment, including Karzima and Harley-Davidson bikes, has seen a 30% increase in its portfolio. The average selling price per unit was Rs 66,680 in Q2 2024, the highest ever.

The CEO said that the company will bring products in the mid and affordable segment in EVs in the next 4-5 quarters, leveraging the strengths of Hero dealerships and collaborating on charging

The brokerage picks Hero MotoCorp among its preferred buys in this space while choosing Tata Motors as a passenger vehicle play and Endurance Technologies and Craftsman Automation among auto ancillaries

#HEROMOTOCO BUY (3640 CE 30 NOV 2023)From -4 TARGET- 12STOP LOSS -1(1Lot = 300 Qty)(REASON : Hero MotoCorp reports strong sales growth in Oc

Rupak De, LKP Securities said, "Nifty traded sideways for most of the session except for the last hour, during which it recovered from the day's low. The overall sentiment remains positive as the index has held above the crucial support level of 19,500. Resistance is positioned at 19,850 on the higher end; a breakthrough could potentially propel the Nifty towards the 20,200 mark."

When the stock prices move up and open interest on the counter also moves upwards, it is taken as a sign of a long buildup.

Answering questions as part of a panel discussion on 'Make in India: Crafting a Manufacturing Revival', Sitharaman said, "We have to ensure growth brings job creation. SMEs are the biggest source of employment."

The Delhi High Court has stayed the Enforcement Directorate's proceedings against Hero MotoCorp's CMD Pawan Munjal, following an ongoing money laundering investigation. Munjal was accused of using foreign currency issued in the name of others for personal expenditure abroad, overriding RBI rules. The ED seized assets worth Rs 24.95 crore from Munjal's relationship manager.

Hero MotoCorp, India's largest two-wheeler maker, achieved its highest-ever festive season sales by selling over 14 lakh two-wheeler units in the 32-day period between the first day of Navratras and Bhai Dooj on November 15. The company recorded a 19% growth over the previous year, surpassing its previous highest retail of 12.7 lakh units in the festive period of 2019.

In the dynamic realm of the stock market, investors keenly observe various technical indicators to make informed decisions. The 20-day Simple Moving Average (SMA) is one such tool that provides insights into short-term trends.

This record-breaking performance in the festive period marks a 19 percent growth for the company over the previous year, and surpasses its previous highest retail of 12.7 lakh units, which was recorded in the 2019 festive period.

A total of 389,714 cars and utility vehicles were sold last month, a 15.9% increase from 336,330 vehicles sold a year earlier, showed data from industry body Society of Indian Automobile Manufacturers (SIAM). Automakers in the country mostly report wholesale despatches from factories and not retail sales to customers.

As per data available from the industry body Society of Indian Automobile Manufacturers (SIAM), as many as 389,714 cars, sedans and utility vehicles were sold in the month under consideration, which is an increase of 15.9% over 336,330 units sold in the same period in the last financial year.

The Delhi High Court has stayed proceedings against Hero Motocorp Chairman Pawan Kant Munjal by the Directorate of Revenue Intelligence (DRI). The court noted that Munjal had been exonerated by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) on the same set of facts, which was not disclosed before the trial court.

The Enforcement Directorate has attached three immovable properties worth Rs 24.95 crore to Hero Moto's CMD Pawan Munjal, with the total value of the seizure and attachments now estimated at Rs 50 crore. The prosecution complaint alleges that foreign currency equivalent to Rs 54 crore was illegally taken out of India.

Hero MotoCorp CEO Niranjan Gupta said the company is collaborating with credible partners in the UK, Spain, and France to start commercial operations in each of these markets by mid 2024. "We will first introduce our electric scooter VIDA V1 in these countries and then expand our offerings with high-capacity premium ICE motorcycles and scooters, which are showcased here," he noted.

Investors, listen up! On November 3, Friday, StockEdge flagged over 50 stocks trending up, and ETMarkets has handpicked five of them for you. In this article, we'll dive into the world of Relative Strength Index (RSI), why it's a pivotal indicator, and how these stocks are riding the momentum wave to potential success.

“Hero MotoCorp has consolidated near the neckline of the previous breakout. So, once you try to buy Hero MotoCorp at the current levels, on the higher end one can expect Rs 3,275 as the first target and once it breaches the zone, we can even see a Rs 3,300 level for Hero MotoCorp. The second one is Titan.”

Prabhudas Lilladher recommended accumulate rating on Hero Motocorp with a target price of Rs 3575 in its research report dated November 03, 2023.

In the dynamic world of stock trading, understanding technical indicators like the Relative Strength Index (RSI) is essential. On November 2, Thursday, StockEdge identified 8 stocks with a declining RSI. ETMarkets delves into the significance of RSI in stock analysis and spotlights 5 stocks - Jyothy Labs, Safari Industries, Balkrishna Industries, Medplus Health Services, and Hero MotoCorp - whose RSI trends are currently on the downside.

Hero MotoCorp Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 61875.44 Crore) operating in Auto sector.

Jefferies maintained a buy rating on Sun Pharma with a target price of Rs 1310. The Q2 miss was largely on higher operating expenses.

Hero MotoCorp on Wednesday reported strong earnings for the quarter ended September 2023, with the net profit surging over 47% year-on-year (YoY) to Rs 1,054 crore. The bottomline was higher than the ETNow poll of Rs 983 crore. Revenue from operations increased by 4% on year to Rs Rs 9445.42 crore and was also above the estimated Rs 9,209 crore.

Its domestic sales were up 26.4 percent at 5,59,766 units, while exports increased by 29 percent at 15,164 units.

Economists say most indicators remain elevated but there are signs of growth slowing. "India's manufacturing sector generated substantial growth in October, despite a challenging global economic environment," said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.

Even as the company reported a robust increase in net profit, Hero MotoCorp Executive Chairman Pawan Munjal took a voluntary pay cut, according to a company filing with the exchanges.

In the midst of the ongoing festive season, the Indian market witnessed a robust double-digit increase in motorcycle and scooter sales last month, reflecting improved consumer sentiments. Hero MotoCorp, the market leader, reported a substantial growth of 26.4%, selling over half a million units domestically. Rival companies such as Honda Motorcycle and Scooter India, TVS Motor Company, and Bajaj Auto also experienced significant sales upticks.

Earlier this year, Hero decided to separate the roles of the Chairman & CEO and appoint a CEO for the company. Following this transition, Munjal volunteered to reduce his fixed salary. Munjal has been accused of forgery and fraud charges in an FIR filed by the Delhi Police recently. The Delhi High Court later stayed the criminal proceedings against Hero MotoCorp and its chairman in the case.

In FY23, Hero Moto had paid Rs 99.55 crore as remuneration to Pawan Munjal, which was 18.02 percent higher than previous year. After a 20 percent cut, it will be around Rs 80 crore.

According to five brokerage estimates, the company’s net profit is expected to climb 33 percent on-year to Rs 955 crore in Q2FY24, compared to Rs 716 crore in Q2FY23.

Revenue from operations increased 4% on year to Rs Rs 9445.42 crore, and was also above the estimated Rs 9,209 crore. Earnings before interest, taxes, depreciation and amortization or EBITDA for the quarter increased by 28% on year to Rs 1,328.29 crore. This was likely aided by easing input costs, price hikes, and a favourable product mix.

Hero MotoCorp said it expects demand to remain optimistic on the back of the recent product launches in the premium segment and ongoing festive season.

Motorcycle sales were at 5,29,341 units last month, as compared to 4,19,568 units in October 2022, up 26.2 per cent, Hero MotoCorp said in a regulatory filing.

Ola Electric sold 22,284 vehicles in October, up from 18,691 vehicles sold in September, according to the portal. Rival Ather Energy sold 8,025 vehicles in October, up from the 7,151 vehicles a month ago.

Brokerages estimate the company's profit to grow by 33 percent YoY in Q2FY24, while revenue is expected to rise by 3 percent YoY

This article delves into the Golden Crossover, a pivotal pattern for stock analysis, and its implications. We've chosen 5 stocks from the list of 40 Nifty stocks, reported by Trendlyne on October 31, Tuesday, that have recently witnessed this pattern.

Leading infrastructure investors, the National Investment and Infrastructure Fund (NIIF) and Macquarie Group, are in the early stages of discussions to acquire a significant minority stake in Tecso Charge Zone.

Leading infrastructure investors, the National Investment and Infrastructure Fund (NIIF) and Macquarie Group, are in the early stages of discussions to acquire a significant minority stake in Tecso Charge Zone.

Dealers believe that this year's festival season is expected to be record-breaking for PVs and 2Ws after two dull years since Covid.

Exponent Energy had last raised $13 million in August 2022 in a Series A led by Lightspeed that valued the Bengaluru-based startup at around $45 million.

NBCC traded above all key moving averages since the second half of July, and formed long bullish candlestick pattern with upper and lower shadows on the daily charts, with robust volumes.

Greaves Electric Mobility, formerly known as Ampere Electric Vehicles, has offered to refund the subsidy it received under the FAME India scheme. The company is one of seven electric two-wheeler makers accused of selling vehicles without meeting localisation requirements. Greaves plans to repay around ₹124.91 crore, making it the second company to offer a refund.

IRM Energy’s IPO is all set to open on October 18 whereas Tata Technologies IPO is expected to launch in mid-November, according to reports.

The unit of Spain's CIE Automotive reported a consolidated profit from continuing operations of 1.87 billion rupees ($22.46 million) for the three months to Sept. 30, compared with 1.68 billion rupees a year earlier.

Hero MotoCorp owns around 40 per cent stake in Hero Fincorp, the promoters, the Munjal family hold around 35-39 per cent while the balance is held by private equity investors like Apollo Global, ChrysCapital, Credit Suisse and some dealers of HeroMoto Corp.

Hero MotoCorp CEO, Niranjan Gupta, is optimistic about the upcoming festive season, stating that the company's booking and inquiry numbers are up by 20% compared to last year. Gupta expects the industry to experience double-digit growth, driven by strong brands and the addition of new models. Incentives have been extended to salespeople and technicians to boost sales, and Gupta believes that pent-up demand and a delayed festive season will further contribute to sales.

The electronics and hardware company unveiled the MUVI 125 4G on Sunday, its first electric vehicle offering in India

The Delhi High Court has granted a stay on the criminal proceedings against Hero MotoCorp, its chairman Pawan Munjal, and officials in a case of alleged forgery. The court has ordered the stay until December 6 and has also suggested the possibility of a settlement. Hero MotoCorp had challenged the trial court's order to register an FIR against them.

The Delhi High Court has issued a stay on proceedings in a first information report (FIR) filed against Hero MotoCorp and its Chairman Pawan Munjal in an alleged bill forgery case. The FIR, filed by the Delhi Police, accuses certain officials of Hero MotoCorp of forgery, falsification of accounts, criminal conspiracy, and cheating. Hero MotoCorp has stated that the case is an old matter dating back to 2009-10 and involves a disgruntled service provider.

The Sensex dropped 483.24 points, or 0.73%, to close at 65,512.39 while Nifty declined 141.15 points, or 0.72%, to close at 19,512.35.

#HEROMOTOCO Intraday Stock for Tomorrow 09.10.23👇👇

Recently, the Tiger Global-backed EV startup secured Rs 900 crore in funding from two-wheeler major Hero MotoCorp and Singaporean sovereign wealth fund GIC, both of which are existing shareholders in Ather.

Shares of Maruti Suzuki fell after the auto major announced festive discounts of up to Rs 65,000 on several models.

Shares of Maruti Suzuki fell after the auto major announced festive discounts of up to Rs 65,000 on several models.

Several electric scooter startups in India are facing challenges and losing investor interest due to their reliance on Chinese parts instead of local sourcing. The government has demanded that six companies return subsidies worth $60 million for violating localization rules. Last year, a series of e-scooter fires prompted an investigation into whether companies were meeting localization norms.

The correction brings the stock below its 50-day Simple Moving Average (SMA) of Rs 3,005.80 according to Trendlyne data though it is still trading above its 200-DMA

A FIR has been filed against Hero MotoCorp Chairman Pawan Munjal by the Delhi Police for allegedly falsifying accounts and availing tax credits on fake bills. The FIR accuses Munjal of forgery, cheating, and falsifying the books of accounts. Earlier this year, the Enforcement Directorate conducted searches against Munjal as part of a money laundering investigation. The raids were carried out at residential and business premises in Delhi and Gurugram. Hero MotoCorp stated that they are cooperating with the agency.

This case is not related to money laundering investigation being carried out by Enforcement Directorate and the Directorate of Revenue Intelligence (DRI), an investigative arm of the Central Board of Indirect Taxes and Customs (CBIC).

India's electric vehicle (EV) industry is aggressively recruiting talent from engineering colleges for various roles in research and development, design, production, and management. Companies like Tata Motors, Hero MotoCorp, and Ola Electric are among those recruiting from top campuses such as NIT Calicut and IIT-BHU. The demand for EV talent has surged, signaling a positive trend in a year when overall tech hiring has been impacted. The industry's focus on hiring reflects the growing shift towards EVs in the country, especially in the two-wheeler segment.

In September, the two-wheeler major sold 5,36,499 motorcycles, 3 percent more than it did in the year-ago period