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Bajaj Auto Q3 FY20 – Realisation improved, outlook positive; accumulate

February 03, 2020 / 08:56 AM IST
Bajaj Auto Q3 FY20 – Realisation improved, outlook positive; accumulate

Bajaj Chetak | The Chetak will be Bajaj's entry into not only the electric segment but also after years, the scooter segment too. unveiled just recently, the Chetak is a hark back to the years gone by with styling components reminiscent of the original scooter albeit with an electric twist to it.

Bajaj Auto (CMP: Rs 3,217, Mcap: Rs 93,124 crore) posted a good set of numbers amid the weakness in the  two-wheeler (2W) industry, driven by higher realisation and lower raw material costs. Its topline saw marginal growth compared to a year ago. What surprised us is the 17.9 percent growth in its operating profitability and significant expansion in its operating margin despite negative operating leverage. We continue to like the business on the back of its strategy of increasing market share, new...

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