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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

    Nitin Agrawal
    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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