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Bajaj Auto: Valuation reasonable for a long-term ride

Decent set of numbers by Bajaj Auto, driven by strong demand in domestic 3W and international 2W segments

October 29, 2021 / 09:32 AM IST
Bajaj Auto: Valuation reasonable for a long-term ride

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Strong 3W demand in domestic market and 2W demand in export market increase volumes - Higher raw material prices hit operating margins - Export market show strong demand momentum - Business outlook positive for medium- to long-term - Stock trading at reasonable valuation; buy with long-term perspective ————————————————————————— Bajaj Auto (CMP: Rs 3,859.7; M Cap: Rs 1,12,000 crore) has posted a decent set of numbers for Q2FY22 despite a significant commodity-linked inflation. The export market provided the cushion. Price hikes helped partially offset raw...

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