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Hero MotoCorp Ltd BUY TECHNICAL
CMP: `3318 (As on 28th Apr 2017)
Buy: > `3370 PICK
Target Price: `3500-3560
Stop-Loss: `3250 Hero MotoCorp Limited is the world's single
Hero MotoCorp Ltd largest two-wheeler motorcycle company. It
manufactures and sells motorized two-wheelers,
4 ARIHANT CAPITAL ยก MAY 2017 spare parts, and components in India. It offers
motorcycles, scooters, and related engines and
services. The company also exports its products.
The company was formerly known as Hero
Honda Motors Limited and changed its name
to Hero MotoCorp Limited in July 2011. Hero
MotoCorp became the first company in the country
to introduce four-stroke motorcycles and set the
standards for fuel efficiency, pollution control and
quality. They have an excellent distribution and
service network spread throughout the country.
The company's product range includes CD Dawn,
CD Deluxe, Pleasure, Splendor +,Splendor NXG,
Passion PRO, Passion Plus, Super Splendor,
Glamour, Glamour PGM FI, Achiever, CBZ
Extreme, Hunk and Karizma. Its manufacturing
plants are located in Dharuhera and Gurgaon
in Haryana; Haridwar, Uttarakhand; Neemrana
in Rajasthan, and Villa Rica in Colombia. Its
research and development center is located in
Jaipur, Rajasthan. It has global parts centre for
manufacturing and supplying the parts at local
and global markets at Neemrana, Rajasthan.
Technical Outlook:
The multi time frame analysis clearly suggests
that the stock is in a firm uptrend. Further we
are observing that the momentum indicators are
gaining strength which clearly indicates that the
upside momentum is likely to continue.
Hence we recommend buying in stock above
Rs 3370 with a stop loss of Rs 3250 for a target of
Rs 3500-3560 levels.
