External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Hero MotoCorp (HMCL) is the world’s largest 2-W manufacturer by volume, with domestic market share at 37% as of FY21.</li><li>Its suite of popular models includes Splendor, Passion, Glamour, etc.</li><li>HMCL's share price has lagged the Nifty Auto Index in the past five years, de-growing at 5.6% CAGR from ~Rs 3,266 levels in February 2017. We retain HOLD rating amid slower than anticipated volume recovery</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Hero MotoCorp (HMCL) is the world’s largest 2-W manufacturer by volume, with domestic market share at 37% as of FY21.Its suite of popular models includes Splendor, Passion, Glamour, etc.HMCL's share price has lagged the Nifty Auto Index in the past five years, de-growing at 5.6% CAGR from ~Rs 3,266 levels in February 2017. We retain HOLD rating amid slower than anticipated volume recoveryContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hero MotoCorp: Steady Performance, EV Launch Awaited

Hero Motocorp

Hero MotoCorp: Steady Performance, EV Launch Awaited