NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Bajaj Auto Ltd. reported an in-line performance in Q3 FY24. The company reported its highest ever Ebitda margin of 20.1%, up 100 basis points YoY, supported by healthy volume growth in the domestic market, better realizations, and cost control.
We maintain our FY24/FY25 estimates. We now value Bajaj Auto at ~20 times December-2025E earnings per share (versus 18 times Dec-25E EPS earlier) to factor in a healthy recovery in domestic two-wheeler volumes, a gradual pickup in exports, and its growth in the growing e-two-wheeler market through products and channel expansion.
Reiterate 'Neutral' rating with a target price of Rs 6,775.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
Carysil Q2 Results Review - Steady Show, Demand To Accelerate From Hereon; Reaffirm 'Buy': Yes Securities
Nov 11, 2024
Bajaj Auto Share Price Slumps On Lackluster Wholesales In October
Nov 04, 2024
Bajaj Auto Share Price Falls 10% Despite Highest-Ever Quarterly Revenue In Q2—Here's Why
Oct 17, 2024
Bajaj Auto, L&T Technology Q2 Results Review - HDFC Securities
Oct 17, 2024
POPULAR