L&T, Hero MotoCorp Share Price Target After Q4 Results; Check What Brokerage Firms Say

At 10:15 am, L&T shares traded with a cut of 3.56 per cent or Rs 124.05 at Rs 3,361.15 per share on the BSE, while at day’s low it hit levels of Rs 3290, a drag of nearly 6 per cent. Check share price target for L&T, Hero MotoCorp by brokerages.

The Larsen & Toubro (L&T) share price declined more than 5% in the opening trades  and was trading 3-4% lower thereafter.

The company reported a mixed set of Q4 earnings with revenue and PAT coming in higher-than-estimates. For the January-March quarter, the company recorded a consolidated net profit of Rs 4396 crore, up 10 per cent year-on-year and beating analysts’ estimate. The civil construction company’s  revenue from operations rose 15 per cent to Rs 67,079 crore, with international revenue contributing 45 per cent of the total.

Jefferies maintained its ‘buy’ rating on the counter. but slashed its target to Rs 3,970 from the earlier Rs 4,135.

Citi maintained its ‘buy’ rating and raised the share price target to Rs 4,396 from Rs 4,373 earlier. 

CLSA maintained its ‘buy’ rating but cut the share price target to Rs 4,151 from the earlier Rs 4,260. The brokerage noted that the key positive in FY24 was a big beat to order inflow guidance, driving new orders up 39 per cent on-year & robust core execution up 27 per cent on-year.

Furthermore, Goldman Sachs continues with its ‘buy’ call on L&T with a reduced target of Rs 3,600 from Rs 3,900 pegged earlier.

Hero MotoCorp Q4 Results

 Shares of Hero MotoCorp Ltd on Wednesday climbed over 3 per cent after the company reported a 16.36 per cent rise in consolidated profit after tax in the March 2024 quarter.

The stock advanced 3.26 per cent to settle at Rs 4,624.35 apiece on the BSE. During the day, it rallied 4 per cent to Rs 4,661.25. On the NSE, it climbed 2.48 per cent to Rs 4,588 per share.

 The company’s market capitalisation (mcap) went up by Rs 2,922.86 crore to Rs 92,450.81 crore. Two-wheeler maker Hero MotoCorp Ltd on Wednesday reported a 16.36 per cent rise in consolidated profit after tax to Rs 943.46 crore in the fourth quarter ended on March 31, 2024, riding on higher sales.

Hero MotoCorp Share Price Target 

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice.)