Bajaj Auto shares will be in focus after CLSA reiterated an Outperform rating on the stock, with a target price of ₹10,149.
In its latest report, CLSA noted that Bajaj Auto’s Q4 EBITDA margin stood at 20.2%, flat on a quarter-on-quarter basis and in line with expectations. The company delivered a 6% year-on-year revenue growth, supported by a 3% rise in volumes and a 2% increase in average selling prices (ASP) driven by an improved product mix.
Notably, Bajaj Auto made significant market share gains in electric two-wheelers (e-2Ws), where its share jumped 12 percentage points YoY to 25% in Q4, helped by the launch of more affordable models.
Looking ahead, CLSA is building in 7% volume growth for domestic two-wheelers and 12% growth in exports for FY26, supported by the company’s product pipeline and strong positioning in the export markets.
Overall, the brokerage remains upbeat on Bajaj Auto’s ability to sustain margins while gaining share in the growing EV segment.
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