Bajaj Auto shares jumped more than 2% in morning trade after CLSA upgraded the stock from Underweight to Overweight, with a target price of ₹9,493.
Key Details (as per CLSA):
- Electric Push: Bajaj Auto’s focus on electric two-wheelers and a recent stock price correction strengthen its growth prospects.
- Valuation & Margins: Trading at 21x FY27 earnings, slightly above its 19x historical average, the company maintains a 20% margin despite scaling operations.
- Strategic Moves: Transitioning 100cc buyers to 125cc models is expected to boost profitability.
- Premium Multiples: Projected to trade at a 10-20% premium over its long-term averages.
Bajaj Auto shares opened at ₹8,719.95, hitting a high of ₹8,898.00 and a low of ₹8,699.20 during the day. The stock’s 52-week range is ₹6,936.55 to ₹12,774.00, reflecting its volatility over the year.
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Bajaj Auto