Hero Moto Corp up 2% despite weak earning in Q1FY23

2W major Hero MotoCorp is up 2% despite missing estimate on all front in Q1FY23 numbers. Despite price hikes being taken by the company, the gross margin contracted ~350bps QoQ because of high commodity inflation. But even when the company results missed the street estimate the stock is up 2% and trading near its 52-week high. Post results the management shared strong commentary on growth and recovery in margins ahead. The management is hopeful of a good festive sale with support coming from rural markets. They believe commodity prices have now peaked off and expect recovery in EBITDA Margins till at least 14% vs 11% currently. They will focus more on premiumization, and EV will also boost the sale is also what they belileve.#HeroMoto ##HeroMotocorp ##HeroMotocorpgrowth

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