Hero MotoCorp plunges 5% as market share hits 21%: Why Jefferies warns ‘GST High’ is over
Jefferies has downgraded Hero MotoCorp’s rating to ‘Underperform’ and revised the target price to Rs 4,950 from Rs 5,550, citing fading demand boost and market share concerns. The stock has declined 5% in the last five trading sessions and its market share has dropped to a 25-year low. Jefferies remains constructive on two-wheeler demand but prefers other companies in the automotive space.