Bajaj Auto rises 3% to fresh 52-week high as Emkay upgrades stock to 'buy'; brokerage raises target price by 17%

Bajaj Auto share price: Stock rises amid strong brokerage note. 

• Bajaj Auto hits 52-week high after Emkay Global upgrades to 'buy'
• Emkay raised Bajaj Auto's target price to Rs 11,100 due to strong exports.
• Bajaj Auto holds 32% of electric three-wheeler market as of Dec 2025

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Bajaj Auto shares climbed up to 3 percent to hit a fresh 52-week high on January 6 after brokerage firm Emkay Global upgraded the stock to ‘buy’ and raised its target price.

The stock rose after two sessions of decline and touched an intraday high of Rs 9,783.5 on the NSE, marking its highest level since November 2024.

The rally followed Emkay Research upgrading Bajaj Auto to ‘Buy’ from ‘Add’ and increasing its price target to Rs 11,100, implying an upside of around 17 percent from current levels.

According to the brokerage, the outlook is supported by strong export momentum and the launch of a refreshed Pulsar range in calendar year 2026, which is expected to drive earnings growth.

Exports remain robust across Latin America and Asia, aided by currency depreciation, with exports forming about 44 percent of volumes in FY26 year-to-date compared with 39 percent in FY25 year-to-date, Emkay said.

On the domestic front, the brokerage noted a recovery trend with a mild uptick in demand led by premium motorcycles and electric scooters during the third quarter of FY26.

In the fast-growing electric three-wheeler segment, Bajaj Auto has overtaken Mahindra & Mahindra as of December 2025, with a market share of about 32 percent, the report said.

Emkay added that strong exports, particularly to Latin America, Asia and parts of Africa, along with currency tailwinds, are likely to support margins, given the company’s export-heavy sales mix.

The brokerage said Bajaj Auto offers the best risk-reward at current levels, supported by export trends and new product launches, and expects volume, revenue and earnings growth over the medium term.

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