Hero MotoCorp share price jumps by 2.50%, can cross 52 weeks high of 5894.55, know the analysis of big investors
Hero MotoCorp, a leading name in the two-wheeler industry, has been in the spotlight as its share price witnessed fluctuations on September 2, 2024. The current share price stands at ₹5,626.70, reflecting a slight decrease of 0.6% from the previous day. This article aims to provide a comprehensive analysis of the stock’s performance, including technical and fundamental insights, target predictions, and comparisons with peer stocks.
Main Points
- 1 Live Today MotoCorp share price
- 2 Market Performance of MotoCorp share price
- 3 Technical Analysis of MotoCorp share price
- 4 Fundamental Analysis of MotoCorp share price
- 5 Today Target Prediction of MotoCorp share price
- 6 Intraday Trading Levels of MotoCorp share price
- 7 Quarterly Results Analysis of MotoCorp share price
- 8 Next-Day Price Forecast
- 9 Market Outlook
- 10 Compare Peer Stocks
- 11 Key Factors Influencing Stock Movement
- 12 Bearish and Bullish Trends of MotoCorp share price
- 13 Today Update News of MotoCorp share price
- 14 1 Month Important Levels
- 15 Movement Causes and 52 Week High Low
As of today, Hero MotoCorp’s share price opened at ₹5,149 and reached a high of ₹5,626.70, with a low of ₹5,254.95. The trading volume was significant, indicating active interest from investors. The market capitalization of Hero MotoCorp is around ₹1,06,283.38 crore, making it a major player in the automotive sector.
Over the past month, Hero MotoCorp’s stock has shown a decline of approximately 5.79%. However, in the last three months, the stock has gained 8.04%, indicating a recovery trend. The stock’s 52-week range has been between ₹2,890 and ₹5,894.30, showcasing its volatility and potential for growth.
From a technical perspective, the stock’s daily pivot level is set at ₹5,357.73. Resistance levels are identified as R1 at ₹5,418.82, R2 at ₹5,469.33, and R3 at ₹5,530.42. On the support side, S1 is at ₹5,307.22, S2 at ₹5,246.13, and S3 at ₹5,195.62. The moving averages indicate a bullish trend, with the 50-day moving average showing a crossover that historically leads to an average price gain of 4.63% within the following 30 days.
Hero MotoCorp’s recent quarterly results indicate a total income of ₹10,435.60 crore and a profit of ₹1,045.89 crore for the quarter ending June 30, 2024. This performance reflects a solid foundation for future growth. The company’s P/E ratio stands at 28.38, and the PB ratio is 6.01, suggesting that the stock is trading at a premium compared to its book value.
Given the current market conditions and technical indicators, the target prediction for Hero MotoCorp’s stock today is set between ₹5,500 and ₹5,700. Investors should watch for any significant movements that could push the stock towards these levels.
For intraday traders, the key levels to watch are:
- Resistance Levels: ₹5,418.82, ₹5,469.33, ₹5,530.42
- Support Levels: ₹5,307.22, ₹5,246.13, ₹5,195.62
Traders should consider these levels for making informed decisions during the trading session.
The recent quarterly results highlight Hero MotoCorp’s resilience in a challenging market environment. The company’s ability to maintain a profit margin of 10% is commendable. The growth in sales figures, especially in the two-wheeler segment, positions Hero MotoCorp favorably against its competitors.
Next-Day Price Forecast
Looking ahead, the forecast for Hero MotoCorp’s share price tomorrow is cautiously optimistic. If the stock maintains its current momentum, we could see it testing the upper resistance levels. However, any negative market sentiment could lead to a pullback towards the support levels.
Market Outlook
The overall market outlook for Hero MotoCorp remains positive, driven by strong demand in the two-wheeler segment. The company’s strategic initiatives, including expanding its product line and enhancing customer engagement, are likely to contribute to its growth trajectory.
Compare Peer Stocks
When comparing Hero MotoCorp with its peers like Bajaj Auto and TVS Motor Company, it is evident that Hero MotoCorp has a competitive edge in terms of market share. Bajaj Auto has seen a decline in recent sales figures, while TVS Motor Company has reported stable growth. This positions Hero MotoCorp as a robust player in the market.
Key Factors Influencing Stock Movement
Several key factors influence Hero MotoCorp’s stock movement:
- Sales Figures: Positive sales figures in the two-wheeler segment boost investor confidence.
- Market Sentiment: Overall market conditions and investor sentiment play a crucial role in stock performance.
- Global Economic Factors: Changes in global economic conditions can impact the automotive sector.
Currently, the stock is experiencing a mix of bearish and bullish trends. While the recent decline in share price indicates some bearish sentiment, the overall market performance and positive quarterly results suggest a potential bullish reversal.
In recent news, Hero MotoCorp has made significant management changes, promoting Sanjay Bhan to Executive Vice President. This move is expected to enhance the company’s global business strategy and product planning.
1 Month Important Levels
Over the past month, the important levels to note are:
- High: ₹5,894.30
- Low: ₹2,890
These levels indicate the stock’s volatility and potential for recovery.
Movement Causes and 52 Week High Low
The movement in Hero MotoCorp’s share price can be attributed to various factors, including sales performance, market conditions, and investor sentiment. The stock’s 52-week high of ₹5,894.30 and low of ₹2,890 reflect its capacity for growth and the challenges it faces.
Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock
