CLSA has maintained its Outperform rating on Bajaj Auto with a target price of ₹10,149, following management commentary that reinforced its growth focus across segments.
Post its management interaction, CLSA highlighted key takeaways:
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Bajaj Auto aims to gain market share in the 125cc+ motorcycle segment, via Pulsar model refreshes and potentially new brand launches.
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It will launch a Chetak e-scooter with 3kWh battery, to deepen its play in electric two-wheelers (e2Ws).
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The company is confident of 15–20% export volume growth in FY26, driven by LATAM traction and recovering African markets.
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A turnaround in KTM is targeted by 2026, post its recent restructuring and as Bajaj takes a controlling stake.
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Bajaj Auto will soon launch an e-rickshaw with Li-ion battery, complementing its current e3W portfolio.
CLSA believes these multiple growth drivers position Bajaj Auto for sustained outperformance across domestic and export markets.
Disclaimer: The views and target prices mentioned in this article are as stated by CLSA. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
