Technical analyst Sanjay Surekha is bullish on Hero Honda Ltd and has recommended 'buy' rating on the stock with a target of Rs 2050.

According to analyst, the interested investors can buy the stock on dips with a stop loss of Rs 1840.

Mr. Surekha added that the investors can achieve the said target within a period of two months.

The stock of the company, on Nov 18, closed at Rs 1912.85 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2094 and a low of Rs 1525 on BSE.

Current EPS & P/E ratio stood at 106.76 and 17.95 respectively.

On Nov 01, India's biggest two-wheeler manufacturer Hero Honda registered its highest ever monthly sales, which stood at 5,05,553 units during the month of October, recording an increase of 42.75% over the same month last year.

This is the first time that Hero Honda hit the five lakh mark.

In addition, for the 5th successive time, Hero Honda registered over 4 lakh despatch sales during the 30 days period.

For JU; y-September quarter, high costs of raw material hit the company's profitability during the second quarter, resulted in a 15% degradation in the net profit, year-onyear, its largest fall in quarterly profit in three years.

The company's net profit during the period under review dropped to Rs 506 crore from Rs 597 crore in the corresponding period of 2009.