Hero MotoCorp Share Price Today: Stock Near Record Highs on EV Push and Festive Demand (December 8, 2025)

Hero MotoCorp Limited (NSE: HEROMOTOCO, BSE: 500182) is trading just below its all‑time high, even as the stock cools slightly in today’s session after a powerful multi‑month rally driven by strong festival sales, accelerating electric scooter volumes and a wave of brokerage upgrades.

Hero MotoCorp share price today (8 December 2025)

As of late morning on Monday, December 8, 2025, Hero MotoCorp shares are trading around ₹6,200–6,230, down roughly 2% intraday from Friday’s close near ₹6,350. ^[1]

Key snapshot:

Spot price (NSE): ~₹6,215–6,220, down about 2.1% on the day. ^[2]
Market capitalisation: ~₹1.24–1.25 lakh crore. ^[3]
52‑week range: ₹3,344 (low) to ₹6,388.50 (high), with the high printed on 5 December 2025. ^[4]
Returns: about +35% over the past year, +125% over three years, and +96% over five years, according to NSE data aggregated by Dhan. ^[5]
Short‑term momentum: Economic Times’ liveblog highlights a 19.2% one‑month and 18.4% three‑month return as of this morning – evidence of the recent breakout. ^[6]

In other words, today’s softness looks more like a breather after a steep climb than a structural breakdown.

From April lows to all‑time highs: the 2025 rally in context

Hero MotoCorp has been one of the standout auto names in India’s 2025 bull market. Business Standard notes that the stock hit an all‑time high on 1 December 2025, having rallied roughly 91% from its April low and around 14% over the last month at that point. ^[7]

Several factors sit behind this move:

Cycle recovery and GST tailwinds
- Reports through 2025 flagged a potential cut in GST on small ICE vehicles, which disproportionately benefits entry‑level two‑wheelers. Brokerage Jefferies explicitly cited Hero MotoCorp as a key beneficiary of the proposed tax cut. ^[8]
- The broader auto index has rallied on these expectations, with two‑wheeler stocks often leading on days when GST chatter resurfaces. ^[9]
Festive and rural demand
- The July–September quarter (Q2 FY26) saw demand supported by tax cuts and strong export growth, with Hero’s quarterly profit beating expectations by rising 15.7% year‑on‑year and exports jumping 77%. ^[10]
- Rural recovery and easier financing have been cited repeatedly by brokerages as structural supports for two‑wheeler demand into FY26. ^[11]
Re‑rating from “value trap” to “growth plus EV option”
- For several years Hero lagged more glamorous peers in EVs and premium bikes. The market is now re‑pricing the stock as the company’s electric brand Vida and export strategy start to show real numbers, not just promises. ^[12]

November 2025: 31% sales growth and market‑leadership reaffirmed

The latest monthly sales print has been one of the biggest near‑term catalysts.

Hero MotoCorp reported 604,490 two‑wheelers dispatched in November 2025, up 31% year‑on‑year from 459,805 units. ^[13]
Within this:
- Motorcycle sales rose 27% to 539,128 units.
- Scooter sales surged 93% to 65,362 units versus the prior year. ^[14]

Industry coverage from mainstream auto media confirms that Hero retained (and effectively extended) its lead at the top of India’s two‑wheeler sales chart in November, with more than 600,000 units sold and broad‑based growth across bikes and scooters. ^[15]

This sales strength fits with Reuters’ reporting that auto dealers expect demand to remain firm into December, even after the peak festive weeks, with Hero among the key OEMs to watch. ^[16]

Q2 FY26 earnings: volume growth, margin expansion, export boost

Hero’s Q2 FY26 (July–September 2025) numbers helped underpin the re‑rating:

Revenue: ~₹12,218 crore, up 16.5% YoY. ^[17]
Consolidated net profit: ~₹1,321 crore, up ~24% YoY. ^[18]
Earnings per share (EPS): up about 23% to ₹65.4. ^[19]
EBITDA margin: improved by roughly 55 bps YoY to about 15%, driven by operating leverage, better mix (more premium bikes / scooters) and cost control. ^[20]

The company’s own Q2 highlight sheet emphasised:

A refreshed 100–125cc portfolio (HF Deluxe Pro, Glamour X, Destini 110/125, Xoom 160, Xpulse 210).
Continued investment in EVs, global expansion and technology as pillars of long‑term growth. ^[21]

Screener data also shows Hero remains almost debt‑free with a healthy dividend payout ratio of around 70–75%, and a ROCE near 29%, adding fundamental comfort to the growth story. ^[22]

EV pivot: Vida crosses 100,000 e‑scooters and pushes Ola out of the top four

For years, Hero’s big strategic question was: can the ICE king become relevant in EVs? The 2025 data suggests the answer is trending towards “yes” – at least in scooters.

Vida volumes and market share

Between January 1 and December 5, 2025, Hero’s Vida e‑scooters recorded 100,383 retail deliveries, taking cumulative Vida sales beyond 150,000 units since launch. ^[23]
Vida’s 2025 volumes are up ~135% YoY, giving it about 8% share of India’s e‑two‑wheeler market (~1.19 million units). ^[24]
Only five OEMs – TVS, Bajaj Auto, Ola Electric, Ather Energy and Hero MotoCorp – have crossed 100,000 EV units in calendar 2025 so far. ^[25]

Fresh commentary today from Rediff notes that Hero has pushed Ola Electric out of the top four by market share in November 2025, underscoring the pace of its catch‑up in EVs. ^[26]

New EV launches and global ambitions

Hero is not just scaling existing Vida products; it is broadening the portfolio:

At a November 2025 event, Hero unveiled new “Novus” EV concepts, the Vida VX2 aimed at Europe, plus electric motorcycle prototypes and the DIRT.E off‑road series – its most aggressive global EV line‑up to date. ^[27]
The company is simultaneously expanding its ICE and scooter footprint overseas, with Reuters highlighting new distribution partnerships in the UK, Italy and Spain and fresh scooter launches in Sri Lanka. ^[28]

Add to this Hero’s roughly 30% stake in Ather Energy, which reported narrowing losses and 54% revenue growth in its latest quarter, and investors see layered EV optionality: direct Vida volumes plus indirect exposure to a leading pure‑play e‑scooter brand. ^[29]

Leadership changes and governance backdrop

2025 has also been a year of top‑management transition at Hero MotoCorp:

In January 2025 the company announced that CEO Niranjan Gupta would step down with effect from 30 April 2025. Vikram Kasbekar, a long‑time insider heading operations and product planning, was appointed Acting CEO from 1 May 2025. ^[30]
On 8 September 2025, Hero named Harshavardhan Chitale – a former global executive at Signify and Philips – as its new CEO effective 5 January 2026. Kasbekar will continue as Executive Director and Chief Technology Officer. ^[31]

Strategically, the CEO change is being read as reinforcement of Hero’s push into electric and “emerging mobility” businesses, which the company carved out as a separate business unit earlier in 2025. ^[32]

Regulatory and governance investigations

Hero has been under scrutiny since 2022–23 over alleged tax and fund‑diversion issues. Several threads are relevant for investors:

India’s Ministry of Corporate Affairs (MCA) ordered a probe in 2023 into corporate‑governance and related‑party concerns. ^[33]
Media reports in March and May 2025, citing government sources, indicated that the MCA’s investigation did not find evidence of governance breaches or fund diversion and recommended no further action. ^[34]
On the same day, however, another official communication cautioned that no “clean chit” should be inferred from media leaks, fuelling some confusion over the status of the probe. ^[35]
Separately, the Delhi High Court in July 2024 quashed summons issued to chairman Pawan Munjal in a DRI foreign‑currency case, removing one legal overhang. ^[36]

Net‑net, while some historic enforcement actions remain part of the narrative, the regulatory risk premium appears to be lower today than it was in 2023, which has likely helped the stock’s re‑rating.

What brokerages are saying: targets and ratings

Broker research over the last few weeks has turned noticeably more bullish, even though there is still a split between aggressive upside calls and more cautious consensus targets.

Bullish camp

Nirmal Bang (Dec 4, 2025): Maintains “Buy” with a target price of ₹7,190, implying roughly mid‑teens upside from current levels. The brokerage cites:
- improving domestic market share,
- rural demand tailwinds,
- ramp‑up in EV volumes, and
- stronger export momentum.
  It models around 9% volume CAGR over FY25–27 and expects operating leverage to support margins. ^[37]
JPMorgan (Nov 19, 2025): Upgraded Hero from Neutral to Overweight and raised its target to ₹6,850 from ₹5,640, noting recovery in demand, growing EV market share and a narrowing valuation discount versus peers. ^[38]
JM Financial (Nov 17, 2025): Retained “Buy” with a target of ₹6,650, lifting volume and EPS estimates for FY26–27 on the back of new ICE and EV launches and improved operating efficiency. ^[39]
Prabhudas Lilladher (Dec 1, 2025): Rates the stock “Accumulate” with a target of ₹6,555, following strong Q2 numbers and improving demand trends. ^[40]
Macquarie and Motilal Oswal: Earlier in November, these brokers maintained “Outperform/Buy” calls, with Motilal Oswal flagging a ₹6,500 target and a 6% volume CAGR over FY26–28. ^[41]

More cautious / lagging estimates

Despite the optimism in recent notes, consensus targets have not fully caught up with the stock’s sharp rally:

Trendlyne’s compilation of 12 reports from seven analysts shows an average target price near ₹5,556, implying about 10–12% downside from current levels. ^[42]
The site also notes at least one brokerage downgrade from “Buy” to “Hold” as valuations stretched. ^[43]

Mint’s broker‑rating dashboard still classifies Hero MotoCorp as an overall “Buy”, but the distribution is mixed: a cluster of strong buy / buy recommendations coexists with a meaningful number of hold and some sell calls. ^[44]

The upshot: short‑term, the sell‑side is catching up to the price, and investors are weighing whether earnings can grow fast enough to justify newer, higher multiples.

Valuation: no longer “cheap”, still not the most expensive in class

Valuation is where opinions diverge the most.

Depending on the data provider, Hero now trades at roughly 22–24x trailing earnings, with a trailing P/E of ~24x on Yahoo Finance and some sites showing a latest multiple above 26x based on live prices. ^[45]
Price‑to‑book sits around 6x, according to Groww and Tickertape. ^[46]

Relative to peers:

Simply Wall St estimates Hero’s P/E at ~24.1x, versus a peer average near 36.9x for listed Indian automobile names like Eicher Motors and Bajaj Auto. On that metric, Hero still screens as cheaper than some high‑growth peers and even as modestly undervalued versus its own “fair” P/E of 31.9x based on forecast growth. ^[47]

Fundamentally, Hero is:

a market leader with high ROCE,
near‑zero net debt,
a solid dividend profile,
but mid‑single‑digit sales CAGR over the last five years, which helps explain why it historically traded at a discount. ^[48]

The market’s 2025 bet is that EV scale‑up + export growth + India’s cyclical upturn justify a shift from “ex‑growth compounder” to a more growth‑oriented valuation band. Whether that sticks will depend on execution over the next 12–24 months.

Technical and derivatives signals: supportive trend, some near‑term caution

Short‑term traders are watching Hero’s price action closely after the stock briefly broke above its previous resistance band near ₹6,300–6,350 and set a new 52‑week high at ₹6,388.50 on December 5. ^[49]

Trend and momentum

Moneycontrol’s technical dashboard classifies the trend as “outperform” across multiple moving‑average crossovers (5/20‑day, 20/50‑day, 50/200‑day), with the price comfortably above its 50‑day and 200‑day SMAs. ^[50]
Several technical screeners (Investing.com, Trendlyne, Dhan, IndMoney) show a “Strong Buy” or bullish daily signal on combined indicators, although shorter‑term oscillators like RSI have recently entered overbought territory, reflecting how quickly the stock has run up. ^[51]

Options market

On the derivatives side, today’s data points to heavy activity around the 6,200–6,300 strikes for the December 30, 2025 expiry:

A MarketsMojo snapshot highlights elevated put open interest at ₹6,200 and ₹6,300, suggesting traders are actively hedging downside after the rally. ^[52]
Option‑chain platforms show spot around ₹6,210–6,230, with 6,200 emerging as a near‑term support zone (“max pain”) and 6,300–6,400 as the first resistance band. ^[53]

Several third‑party forecast tools that use purely technical models (such as StockInvest and Munafasutra) frame the short‑term outlook as range‑bound, with suggested intraday support levels just below current prices and upside resistance in the ₹6,400–6,430 area. ^[54]

These are model‑driven views rather than guarantees, but they reinforce the idea that much of the easy technical upside from the April lows has already played out, and that the stock may need consolidation or fresh catalysts to sustain further gains.

Key risks to the Hero MotoCorp story

Even bullish brokerages are flagging several watch‑outs:

Valuation and expectations risk
- After a near‑doubling from April lows, the margin for error has shrunk. Any disappointment on EV ramp‑up, export growth or rural demand could trigger a derating. ^[55]
Competition in EVs and premium bikes
- The e‑two‑wheeler space remains fiercely competitive, with TVS, Bajaj Auto, Ola Electric and Ather all pushing volumes and new products. Hero’s recent gains – including overtaking Ola in November – will need to be defended through sustained product and network execution. ^[56]
Regulatory and tax uncertainty
- While GST‑cut expectations have been a tailwind for sentiment, any delay, dilution or reversal in policy could hurt volumes, especially at the price‑sensitive entry level. ^[57]
Residual governance overhang
- Despite media reports suggesting no adverse findings from the MCA probe, the lack of an unequivocal, detailed public closure means governance and compliance questions may re‑emerge if new disclosures or enforcement actions occur. ^[58]

What to watch in 2026

Looking ahead, markets are likely to focus on a few big themes:

CEO transition in January 2026: How quickly Harshavardhan Chitale articulates a clear roadmap for EVs, exports and premiumisation – and whether capital allocation (capex vs dividends vs buybacks) shifts under his leadership. ^[59]
Sustainability of EV momentum: Can Vida maintain six‑figure annual sales, expand into more cities and segments, and deliver acceptable unit economics while facing subsidy changes and rising competition? ^[60]
Export growth and new markets: The ramp‑up in Latin America, Africa, and now Europe will be closely tracked through quarterly volumes and revenue contribution. ^[61]
Margin trajectory: After the meaningful EBITDA margin improvement in FY25–26 so far, investors will watch input costs, pricing power and EV profitability to see if mid‑teens margins are sustainable. ^[62]

Bottom line

Hero MotoCorp’s stock on 8 December 2025 sits at an interesting junction:

Fundamentals — strong recent earnings, November’s 31% YoY volume growth, and clear traction in EVs and exports support the rerating. ^[63]
Sentiment — multiple brokerages now have targets above the current price, and technical indicators still largely flash “bullish.” ^[64]
Valuation & risk — the stock has moved from “deep value” to “reasonably rich,” with consensus targets actually below the live price, signalling that some analysts think the rally may be ahead of fundamentals. ^[65]

For investors, Hero MotoCorp in late 2025 is less a classic contrarian bet and more a high‑quality, high‑expectations story where execution on EVs, exports and governance will decide whether today’s price is a new base – or the top of the cycle.

References