Hero Motocorp has reported net profit of Rs 604 Cr better than expectations in September quarter in 2011 while Rs 506 Cr was in same quarter last year. A 19.4% year t o year profit growth was posted by company and sales jumped 28% to Rs 5784 Cr from Rs 4511 Cr. Expenses of the company rose 29.6% to Rs 5190 Cr from Rs 4005 Cr because of depreciation increased 361% to Rs 280 Cr from Rs 60.7 Cr during the same period last year. Hero Motocorp may outperform in FY 12. Stock has support on Rs 1930 level, currently stock is trading below 50 days moving average. Stock can buy for long –term. Target for the stock is Rs 2500 in 6 to 7 months.
