Hero MotoCorp, Bajaj Auto: Stocks climbed 4-6% today; share price targets

Shares of Hero MotoCorp Ltd and Bajaj Auto Ltd climbed up to 6 per cent in Thursday's trade following  the two-wheeler makers' March quarter results. In the case of Hero MotoCorp, the scrip rose 5.57 per cent to hit a high of Rs 5,458 apiece on BSE. Bajaj Auto,on the other hand, advanced 4.10 per cent to hit a high of Rs 10,738.40 per share.  While Bajaj Auto's Q4 net profit jumped 34 per cent and the company announced up to Rs 5,633 crore in share buybacks and  Rs 150 per share dividend, Hero MotoCorp reported a 30 per cent surge in net profit and declared Rs 75 per share in dividend. 

Bajaj Auto share price targets

Axis Direct has upped Bajaj Auto stock's target price to Rs 11,410 from Rs 10,790. It retained its 'Buy' rating, citing strong multi-cylinder growth triggers across domestic premium motorcycles, export rebound, a disciplined three-wheeler (3W) and EV scaleup, and a sharply improving financial services business through BACL. 

"Despite near-term noise around EV supply chain constraints, Bajaj’s capital-efficient model, leadership in key segments, and countercyclical balance sheet strength support rerating potential," it said.

Emkay Global said Bajaj Auto expects a 3-5 per cent rise in commodity prices in Q1 and has taken price hikes to offset 30-40 per cent of this impact so far. Bajaj Auto, it said, believes the next round of price hikes would be the last. 

Favorable currency tailwinds in exports are seen helping offset commodity-related headwinds for Bajaj Auto. Exports are said to be on a strong footing, with run rate expected at over 2,20,000 units per month in Q1, aided by strong growth in Latin America and stable demand in Nigeria.

"We raise FY27E/28E EPS by 2.5-4 per cent, led by higher ASPs and higher growth in E-2W/premium motorcycle volumes. We retain Buy and raise our target by 5 per cent to Rs 12,600 from Rs 12,000 at 26x FY28E core EPS," Emkay said.

ICICI Securities said Bajaj Auto's operational performance surpassed its estimate, adding that a robust export momentum will anchor growth going ahead. This brokerage upped its target on Bajaj Auto to Rs 12,000 from Rs 11,150. 

YES Securities said while healthy exports and EV momentum with expected ramp-up of Chetak and 3Ws are key positives, it remained watchful on targeted market share recovery in 150cc segments within domestic market. "An effective turnaround of KTM operations remain key monitorable for us to turn constructive. In the meantime, improved profitability of EVs and BACL is positive. The stock's valuations do partially reflect above challenges but lacks re-rating catalyst," the brokerage said while suggesting a target of Rs 11,626 and Rs 11,500.

Hero MotoCorp share price targets

HDFC Institutional Equities said Hero MotoCorp seeing early signs from the new CEO, joined in Jan 2026, wanting to unlock the company’s business potential, especially in key segments where it has lacked against key peers. 

If executed well, it would aid the company’s diversification beyond its core segment, which has been the highly cyclical and price sensitive domestic commuter segment, ity said.

"We have recently seen the company gain good traction in some of the focus segments: ICE scooter, e2W, and global. While management has guided for the 2W industry to grow in high single digits in FY27 and for the company to outperform the industry, we remain cautious, considering the possibility of adverse monsoon, large cumulative price hikes, and higher inflation which could limit demand," it said.
Hero MotoCorp stuck to its 14-16 per cent Ebitda margin guidance for the medium term but refrained from assuring even a minimum of 14 per cent margin for FY27. HDFC Institutional Equities maintained 'Buy' and a target of Rs 6,657. 

YES Securities expects Hero MotoCorp to deliver a volume growth of 7 per cent over FY26-28,
driven by new launches, product acceptance in scooter/premium MC and a ramp-up in
exports. 

"HMCL will also benefit from a gradual rural recovery, given strong brand equity in the economy and executive segments, post GST 2.0 sentiment boost. HMCL’s strategy to grow non-domestic MC sales via SPAM, exports, and EVs should aid overall growth and margin expansion. The stock is trading at 17.4 times/16.6 times FY27/28E EPS. Maintain ADD with revised target of Rs 5,915 (vs Rs 5,880)," the brokerage said.  

Nuvama retained ‘Buy’ with an unchanged target of Rs 6,000 per share. It said recent launches of Glamor X, Destini 125 and Xoom 125 received a positive customer response leading to market share gains. The mass-market E-2W, Vida VX2, is also gaining traction, helping the company achieve a market share of 10% in FY26 (4% in FY25), it said.

"The newly introduced Battery-as-a-Service (BaaS) offering is helping gain further uptake by lowering the upfront cost of E-2Ws. In the near-term, another new affordable EV is likely to be launched to support volumes and market share gains," it said.