Hero MotoCorp Ltd Share Price – NSE /  BSE

Automobile, Mid Cap

The domestic equity benchmarks traded with significant losses in early-afternoon trade amid mixed cues from global markets and fears of full fledged war between Iran and Israel. The fall was also triggered by SEBI's new F&O rules. The Nifty traded below the 25,400 level. Financial services shares extended losses for the fourth consecutive trading session. Trading was volatile due to weekly F&O series expiry today.

At 12:30 IST, the barometer index, the S&P BSE Sensex tumbled 1,363.31 points or 1.61% to 82,913.07. The Nifty 50 index dropped 418.60 points or 1.62% to 25,378.30.

In the broader market, the S&P BSE Mid-Cap index slipped 1.71% and the S&P BSE Small-Cap index declined 1.42%.

The market breadth was weak. On the BSE, 1,100 shares rose and 2,764 shares fell. A total of 108 shares were unchanged.

SEBI's new F&O rules:

The Securities and Exchange Board of India's (SEBI) introduced a six-step plan to curtail retail participation in speculative index derivatives. This could result in a significant decline in trading volumes. New regulations require traders to maintain higher margins, potentially hindering their ability to take on larger leveraged positions.

Moreover, the reduction of weekly options expiries to one per exchange could lead to decreased revenues for exchanges and brokers. This change means that each exchange will only offer weekly contracts for one benchmark index instead of the current two to four. These measures are designed to reduce excessive speculation in the futures and options (F&O) segment, where retail investors often find themselves on the losing end of trades.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, soared 11.15% to 13.33. The Nifty 31 October 2024 futures were trading at 25,569.50, at a premium of 191.20 points as compared with the spot at 25,378.30.

The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 63.2 lakh contracts at the 27,000 strike price. Maximum Put OI of 37.4 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty Financial Services index slipped 1.70% to 24,062.30. The index fell 4.34% in the four consecutive trading sessions.

Cholamandalam Investment & Finance Company (down 4.08%), Shriram Finance (down 3.84%), Power Finance Corporation (down 3.57%), REC (down 2.69%), LIC Housing Finance (down 2.67%), Axis Bank (down 2.65%), Bajaj Finserv (down 2.59%), Bajaj Finance (down 2.39%), Kotak Mahindra Bank (down 2.35%) and IDFC (down 2.27%) declined.

Stocks in Spotlight :

Hero MotoCorp declined 1.06%. The two-wheeler major’s total motorcycle and scooter sales jumped 18.74% to 637,050 units in September 2024 as compared with sales of 536,499 units recorded in September 2023.

J.Kumar Infraprojects added 0.36%. The company has received Letter of Acceptance (LoA) from Mumbai Metropolitan Region Development Authority (MMRDA) worth Rs 1,847.72 crore.

Transformers and Rectifiers (India) rallied 3.49% after the company announced that it has secured orders worth Rs 565 crore from Power Grid Corporation of India for supply of transformer and reactors.

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The company’s motorcycles sales grew by 20.89% to 597,529 units, while scooters sales declined 6.41% to 39,521 units in September 2024 over September 2023.

During the period under review, sales of motorcycles and scooters in the domestic market aggregated to 616,706 units (up 18.65% YoY) while exports of the same was at 20,344 units (up 21.75% YoY).

Hero MotoCorp is engaged in the manufacturing and selling of motorised two-wheelers, spare parts and related services. The company is a leading two wheeler manufacturer and has a dominant presence in domestic market.

The two-wheeler major's standalone net profit increased 36.12% to Rs 1,122.63 crore on 15.7% rise in revenue from operations to Rs 10,143.73 crore in Q1 FY25 over Q1 FY24.

Shares Hero MotoCorp declined 1.75% to Rs 5,649 on the BSE.

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Securities in F&O ban:

Bandhan Bank, Birla Soft, Hindustan Copper, RBL Bank

Stocks to watch:

Hero Motocorp has reported motorcycle sales of 5.97 lakh units in September 2024, jumping 21% YoY. Scooter sales stood at 39,521 unitsin September 2024, down 6% YoY. Domestic sales reached 6.16 lakh units in September 2024, up 19% YoY while exports jumped 22% to 20,344 units in September 2024.

Maruti Suzuki India’s total sales stood at 1.84 lakh units in September 2024, reflecting a year on year increase of 1.9%. Domestic sales declined 1.2% YoY to 1.57 lakh units while exports jumped 23% YoY to 27,728 units in September 2024.

Dabur India expects to see a negative impact on consumer offtake in the second quarter due to heavy rains and floods across the country, particularly affecting the beverage category. As a result, the company anticipates a mid-single-digit decline in consolidated revenue and expects operating margins to decrease in the mid- to high teens range.

Marico’s domestic business posted mid-single digit volume growth, showing sequential improvement in the September quarter. International business saw low-teen growth in constant currency terms.

HDFC Bank has incorporated HDFC Securities IFSC at GIFT City.

Aurobindo Pharma has received USFDA approval for cephalexin tablets. Cephalexin tablets are used to treat infections caused by microorganisms.

CSB Bank’s total deposits jumped 25% YoY to Rs 31,841 crore in Q2 FY25. The bank’s gross advance stood at Rs 26,871 crore, up 20% YoY in Q2 FY25.

ITC’s unit, Infotech acquired Blazeclan Technologies for Rs 485 crore.

Coal India has reported production at 50.9 million metric tonnes, down 1% YoY and sales at 54.4 million metric tonnes, down 1.4% YoY.

Zuari Industries has acquired a 50% stake in Forte Furniture form joint venture partner Fbryki Mebil Forte.

NMDC has reported production of iron ore for the month of September at 3.04 metric tonnes (MT) and sales at 3.54 MT.

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Hero MotoCorp Ltd is down for a fifth straight session today. The stock is quoting at Rs 5707.85, down 4.19% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.2% on the day, quoting at 25865.55. The Sensex is at 84467.06, down 1.29%.Hero MotoCorp Ltd has added around 2.32% in last one month.Meanwhile, Nifty Auto index of which Hero MotoCorp Ltd is a constituent, has increased around 3.97% in last one month and is currently quoting at 27610.75, down 1.82% on the day. The volume in the stock stood at 8.78 lakh shares today, compared to the daily average of 7.66 lakh shares in last one month.

The benchmark October futures contract for the stock is quoting at Rs 5743.8, down 4.45% on the day. Hero MotoCorp Ltd jumped 89.28% in last one year as compared to a 32.45% rally in NIFTY and a 69.52% spurt in the Nifty Auto index.

The PE of the stock is 27.91 based on TTM earnings ending June 24.

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