Hero MotoCorp hits all-time high; zooms 91% from April low; upside left?

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Hero MotoCorp share price today

 

Hero MotoCorp share price hit an all-time high of ₹6,330 on the BSE today, gaining 2.5 per cent in Monday's intraday trade, ahead of the release of the company's November auto sales numbers. The stock price of the world's largest manufacturer of motorcycles and scooters company surpassed its previous high of ₹6,245, touched on September 24, 2024.

 

In the past one month, the stock price of Hero MotoCorp has rallied 14 per cent as compared to 2.5 per cent rise in the BSE Sensex. In the past six months, the stock has surged 50 per cent as against a 6 per cent gain in the benchmark index.

 

The market price of Hero MotoCorp share has zoomed 91 per cent from its 52-week low of ₹3,322.60, which it touched on April 7, 2025.

 

Hero MotoCorp's business performance

 

The strong outperformance of Hero MotoCorp stock price may be attributed to expectation of a healthy volume growth in FY26, led up upbeat demand sentiment in the rural economy amid healthy farm produce and positive 2025 monsoons.

 

Hero MotoCorp's Global Business continued its upward growth trajectory during the September 2025 quarter (Q2FRY26) with dispatch growth of 77 per cent, three times the industry growth, led by Bangladesh, Nepal, Sri Lanka, and Colombia. The company marked its entry into Europe and the UK markets with Euro5+ compliant portfolio.

 

The change in the GST regime has fundamentally simplified India's indirect tax structure and demonstrably improved consumer sentiment. The industry witnessed direct benefits of this policy reform, reflected in strong market performance.

 

The management expects the momentum in growth to continue, supported by benefits flowing in from the GST reforms, healthy macro‐economic parameters, and a robust product portfolio.  CATCH STOCK MARKET LIVE UPDATES TODAY

Hero Moto Nov 2025 sales expectations

Hero MotoCorp, which is scheduled to release its November 2025 sales numbers today, may report two-wheeler (2W) industry volumes growth in double digits in November 2025 (up 15 per cent year-on-year (Y-o-Y)) in the domestic market, expectss Nuvama Institutional Equities.

 

Strong growth momentum, the brokerage said, shall sustain post-festive season supported by positive customer sentiment spurred by better affordability (due to GST rate cuts), adequate financing availability and strong rural demand (healthy crop cash flows and marriage season).

 

For November wholesales, the brokerage firm estimates total volume growth at 32 per cent Y-o-Y for Hero MotoCorp to 605,000 units.

 

Brokerages see more upside in Hero MotoCorp stock price

 

Hero MotoCorp's market share gains have continued into November, supported by sustained post-festive demand and the strength of its refreshed product portfolio. Post the festive period, the management said the company now has the lowest inventory and lowest receivables in the recent years. Based on these encouraging trends, Hero MotoCorp expects the 2-wheeler industry to grow 8 per cent to 10 per cent in the second half of FY26 with Hero poised to outperform the overall market and continue to gain market share.

 

Analysts at Motilal Oswal Financial Services expect Hero MotoCorp to deliver a volume compound annual growth rate (CAGR) of 6 per cent over FY26-28, driven by new launches and a ramp-up in exports. The company, it said, may also benefit from a gradual rural recovery, given strong brand equity in the economy and executive segments.

 

"Rural sentiment is positive given positive terms of trade for farmers and a healthy monsoon so far. Further, management has indicated that it is seeing a gradual recovery in rural markets currently. Given that Hero MotoCorp has a dominant 100-110cc portfolio, any recovery in the rural region bodes well for the company. Further, the recent tax cut in the Union Budget is likely to help support entry-level demand," the brokerage firm said. It reiterated a 'BUY' rating on the stock with a target price of ₹6,500.

 

JM Financial Institutional Equities, meanwhile, expects the domestic two-wheeler industry to grow 8-10 per cent in the second half, supported by GST cuts, rural recovery, monsoon normalisation, tax relief and lower inflation. With Hero expected to outperform the market, the brokerage has raised its earnings estimates and upgraded its target price to ₹6,650 (₹5,250 earlier), while maintaining its 'Buy.'

   

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Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.