CLSA has issued an ‘Underperform’ call on Bajaj Auto, with a target price of ₹7,000 per share. Despite the promising launch of the Speed T4 motorcycle at an attractive price point of ₹2.17 lakh, CLSA remains cautious due to increasing competitive intensity in the market.
Bajaj Auto successfully delivered 60,000 Triumph motorcycles in FY24, but CLSA highlights concerns over growth moderation in the >250cc motorcycle segment. The firm also notes continued pressure in key export markets, which could further impact the company’s performance.
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Bajaj Auto