Buy Bajaj Auto, recommends Mihir Jhaveri

Mihir Jhaveri of Religare Capital Markets told CNBC-TV18, “I have a buy recommendation on Bajaj Auto. We have yet not changed our estimates as such because there is obviously the Nigeria effect but there is also currency-rupee depreciation. So, if the rupee depreciation allows them to pass on some of the benefit to the Nigerian market and we will see once the results come out and how the margins will pan out and commentary from their side.”

“As Rajiv Bajaj mentioned in one of the interviews that he has been able to manage the Nigerian move and any further move probably what will be the impact, we will hear him out and then take a call,” he said.