Emkay Global Financial Services has come out with result updates on Bajaj Auto, Hero MotoCorp, Axis Bank, Wipro, Rallis India, Hindustan Zinc, JSW Steel, M&M Financial Services, Reliance Industries, Ultratech Cement.
Bajaj Auto: At Rs1,558 the stock trades at PER of 14.1x/12.6x and EV/EBIDTA of 9.8x/7.9x our FY12/13 estimates respectively. Given the high cash flow generation and strong ROCE of above >60%, we find stock attractive. However, given the fact that exports will be the key driver of performance in the near term, we are lowering our target multiple by 10% to 15.5x/10.2x PER / EVDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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