Following an almost 76 percent rise in the stock in the last 1 year, domestic brokerage house Axis Securities has picked auto major Hero MotoCorp as its top pick of the week .
On the margin front, EBITDA rose by 2.5 percent or 250 basis points to 14 percent from 11.5 percent in the same period last year “aided by commodity costs, leap savings, premiumisation and judicious price changes”.
The double-digit growth in volumes is expected mainly due to a healthy recovery in the domestic market, while discounts during the festival season restricted realisations growth to 2% YoY, analysts said.