Buy Bajaj Auto, says Hitesh Goel

Hitesh Goel, Associate Director at Kotak Institutional Equities told CNBC-TV18, "We have a buy rating on Bajaj Auto but in the near term at least for the next six months the volume growth will be kind of challenge for the two wheeler industry especially on the motorcycle side because rural penetration is quite low for motorcycles and you will see some growth in scooters but overall two wheeler industry will not show a very significant growth for second half.""In case of Bajaj Auto you will have to monitor exports which is 50 percent of the revenues and high proportion of their EBITDA. The first half has been good but in the second half you will see some moderation in growth largely because of the export to Africa and Latin America and also because oil prices have come down you are seeing pressure in these economies," he said."Bajaj Auto and Hero Motocorp are at reasonable valuation, so we have a buy rating. But near term triggers are absent in both these stocks."