INSUBCONTINENT EXCLUSIVE:
Brokerages trimmed target prices on Hero MotoCorp by as much as 8 per cent after the company reported a 24.5 per cent decline in profit for
the March quarter at Rs 730 crore.
Shares of Hero MotoCorp ended down 0.5 per cent ahead of result announcement on Friday.
CLSA cut the
target price by 1 per cent to Rs 2,375 mkay Global cut target price by 4 per cent, IDBI Capital lowered it by 8 per cent and Equirus by 7.5
two-wheeler companies going forward as they believe original equipment manufacturers will find it difficult to pass on the full cost impact
of new safety and emission norms due to weak demand and high competition.
CLSA said valuations are not cheap despite a 30 per cent fall in
