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As of 30-Jun-2022, promoters held 68.69 per cent stake in the company, while FIIs held 11.13 per cent and domestic institutional investors had 3.97 per cent.

GM is expected to improve sequentially but operating margin will remain under pressure owing to weak revenue show. The brokerage models 15% YoY decline in EBITDA. EBITDA margin at ~30%.

Hero MotoCorp, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 53467.43 Crore) operating in Auto sector.

“It appears that hydrogen internal combustion engine probably may see the light of day in terms of commercialisation faster than hydrogen fuel cell electric because of internal combustion engine being more tolerant to lower purity of hydrogen and also it helps to use the entire IP as well as infrastructure that has already been there for internal combustion engine.”

A total of 1,228,842 shares changed hands on the counter till 02:13PM (IST)

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The consensus recommendation from 15 analysts for the bank is a buy. Out of the 17 analysts covering the stock, 13 have strong buy and buy ratings, while only one has a sell rating and the remaining three have hold ratings.

Promoters held 0.0 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 19.65 per cent and 6.76 per cent, respectively.

Gross margin pressure is expected to sustain, the brokerage maintains sequentially flat margin at ~41% (down +400bps YoY).

A total of 53,342 shares changed hands on the counter till 01:32PM (IST).