Image Credit: motorbeam.com
Hero MotoCorp has entered the race of electric vehicles with
its Vida V1, which brokerages suggest is priced significantly
higher when compared to its competitors. Hero MotoCorp
has introduced two trims of its first electric scooter — Vida V1
Plus and Vida V1 Pro — tagged at Rs 1.45 lakh and Rs 1.59 lakh
(ex-showroom), respectively. Since the launch on Friday, Hero
MotoCorp shares have slipped more than 3 percent. On Monday,
the auto stock was trading 2.8 percent lower at Rs 2550.40
on BSE at 10:16 am. The downtrend also comes amid an
overall negative trend in the market as concerns about the
impact of steep rate hikes on economic growth persist.
However, global brokerages CLSA and Citi continue to remain
bullish on India’s largest two-wheeler maker. The former has an
‘outperform’ call on the company and expects its stock to rise a
further 12 percent. Citi has given a buy rating to the automaker
and sees more than an 18 percent upside in
its share price from Friday’s closing price.