Hero MotoCorp Shares Plunge 5% as Jefferies Downgrades, Cuts Target Price

• Hero MotoCorp shares fell over 5% after Jefferies downgraded the stock to 'Underperform'.
• Jefferies cut the target price by 11% to Rs 4,950 from Rs 5,550, implying a 15% downside.
• The downgrade is due to Hero MotoCorp's domestic two-wheeler market share hitting a 25-year low of 28%.
• Market share decline attributed to demand shift from entry-level bikes and losses in 110-125 cc segment.
• Shares reached Rs 5,513, a nearly five-week low, extending losses for the fifth consecutive session.

Why It Matters: Jefferies' downgrade and market share concerns led to a significant 5% drop in Hero MotoCorp shares.