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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 |
Bajaj Auto total sales drops 15% YoY in August
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Hot Pursuit
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01-Sep-23
09:36
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Bajaj Auto to hold AGM
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Corporate News
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26-Apr-23
10:11
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Bajaj Auto consolidated net profit declines 16.70% in the December 2021 quarter
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Results
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Announcements
20-Jan-22
08:06
)
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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
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Board of Bajaj Auto approves change in directorate
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Corporate News
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24-Jan-24
19:15
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Bajaj Auto hits record high on good Q3 performance
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Hot Pursuit
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25-Jan-24
12:02
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Bajaj Auto in discussion to transfer its 48% stake in KTM AG
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Corporate News
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01-Dec-20
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Bajaj Auto sells 3.55 lakh units in May'24
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Corporate News
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03-Jun-24
09:06
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Bajaj Auto board approves 2,500 cr share buyback
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Hot Pursuit
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27-Jun-22
14:49
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Bajaj Auto Ltd down for fifth straight session
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Hot Pursuit
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26-Dec-22
09:41
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Bajaj Auto Ltd down for fifth straight session
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Hot Pursuit
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27-Sep-22
13:35
)
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