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Hot Pursuit
15-Sep-23
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Bajaj Auto spurts after brokerage upgrade, hits 52-week high
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Bajaj Auto surged 5.01% to Rs 5084.60, following an upgrade in the stock recommendation by a foreign broker.
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According to the media reports, the broker raised the rating on the stock from 'neutral' to 'buy' and raised the target price from Rs 5,100 per share to Rs 5,550 per share, suggesting a potential upside of 15% from the previous day's closing price. The broker identified multiple growth drivers for Bajaj Auto, including exports and electric vehicles, which could lead to positive growth in the future. The three-wheeler segment is performing well, and there is also a gradual recovery in two-wheeler sales in the domestic market. Overall, the broker expects a revenue compound annual growth rate of 14-15% in the fiscal years 2023-2026.
Bajaj Auto is engaged in the business of development, manufacturing and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers etc. and parts thereof. The auto major reported consolidated net profit jumped 41.33% to Rs 1,644.14 crore on 28.82% increase in net sales to Rs 10,311.91 crore in Q1 FY24 over Q1 FY23.
The stock hit a 52-week high of Rs 5121.50 today.
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Previous News |
Market drifts lower in early trade; breadth weak
(
Market Commentary
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Mid-Session
19-Apr-24
09:34
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Bajaj Auto to table results
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Corporate News
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30-Mar-24
09:15
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Bajaj Auto fixes record date for dividend
(
Market Beat
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Reports
18-Apr-24
17:07
)
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Bajaj Auto arm commences production at new plant in Manaus, Brazil
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Corporate News
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26-Jun-24
12:59
)
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Bajaj Auto edges higher after sales in Feb'24 rise by 24% YoY to 3.46 lakh units
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Hot Pursuit
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01-Mar-24
09:20
)
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Bajaj Auto Q4 PAT climbs 35% YoY to Rs 1,936 cr
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Hot Pursuit
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18-Apr-24
17:25
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Bajaj Auto records 24% growth in Feb sales volumes
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Corporate News
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01-Mar-24
09:36
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Bajaj Auto Ltd gains for third straight session
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Hot Pursuit
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25-Jan-24
13:05
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Bajaj Auto Q4 PAT rises 12% YoY; board OKs dividend of Rs 140/share
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Hot Pursuit
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25-Apr-23
17:51
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Bajaj Auto April sales volumes increase by 7% YoY basis
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Corporate News
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02-May-23
10:42
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Board of Bajaj Auto recommends Final Dividend
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Corporate News
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18-Apr-24
17:32
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