Quote on Hero Moto stock tanks 8% By Ashwin Patil, LKP Securities
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Below are Quote on the auto sector from Ashwin Patil. Senior Research Analyst (Auto) at LKP Securities
"Despite the fall, the stock does not look very attractive to us in the long term mainly due to pressure on its volumes and a tepid outlook given the rise in fuel costs, slow recovery in both urban and rural markets and a 25-30% hike in acquisition costs of the two-wheelers since the pandemic started. However, the knee jerk reaction shown today in the stock may see some recovery tomorrow provided the management gives a satisfactory clarification to the street"
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