Hero stock has rallied 23 percent from October 25, 2018 as investors expect rural benefit for the company.
Hero MotoCorp shares fell 3.4 percent in morning on Monday after global brokerage house Goldman Sachs downgraded the stock to sell from neutral.
The research firm also slashed its target price sharply by 12.66 percent from Rs 3,175 to Rs 2,773, implying 16.5 percent potential downside from December 21 closing levels.
Goldman Sachs believes near term volumes & results will be muted.
Hero stock has rallied 23 percent from October 25, 2018 (when it hit lowest closing level of 2018) as investors expect rural benefit for the company.
At 11:20 hours IST, the stock was quoting at Rs 3,217.40, down Rs 102.55, or 3.09 percent on the BSE. It fell 12 percent year-to-date.
GET ONE DAY FREE TRIAL>>>GOLD SILVER TIPS
No comments:
Post a Comment