Hero Honda declares Q1 result for FY12, net profit surges 14% to Rs.558 crore

India’s largest two-wheeler manufacturer Hero Honda Ltd., has declared its Q1 result for financial year 12 its net profit has jumped about 14% to Rs.558 crore versus Rs.491 crore for the same period in previous year. Its net sales surged by more than 31% to Rs.5,638 crore against Rs.4,296 crore on (YOY) year-on-year basis. Even OPM (operating profit margin) has improved 14.3% against 14% during the same period in previous year.

Trading view on HEROHONDA stock : Taking a look at the charts, we see that HEROHONDA stock is on up trend and as per our strategy we will be looking for selling opportunities only as long as the stock remains above the 1700 levels our long term targets will be 1960 and 2170 level, its is also advisable to place a protective stop loss near 1650 levels. Technical indicators suggest us to enter only long positions (buy positions), Buy RSI is showing us negative divergence but we will ignore that as technical and fundamentals both are validating out trade entry.

About Bhaveek Patel

Bhaveek Patel is a technical analyst and investor, his areas of interest includes stock market, forex, gold.

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