Moneycontrol
Get App
Last Updated : May 21, 2020 08:28 PM IST | Source: Moneycontrol.com

Buy Bajaj Auto target of Rs 3000: Sharekhan

Sharekhan is is bullish on Bajaj Auto has recommended buy rating on the stock with a target price of Rs 3000 in its research report dated May 20, 2020.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Bajaj Auto


Bajaj Auto Ltd (BAL) Q4 results beat estimates driven by higher realisations per vehicle and margins due to better product mix and favorable forex realisation. 2W are expected to witness faster recovery owing to higher rural exposure. Rural sentiments are strong due to strong rabi harvest. Recent Government move to open end markets for farmers would also boost income. BAL is expected to continue outpacing industry driven by new launches in domestic market and entry into newer markets overseas.



Outlook


Valuations at 14.4x FY22 earnings are lower than long term averages. Maintain Buy with an unchanged PT of Rs 3,000.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
Get best insights into Options Trading. Join the webinar by Mr. Vishal B Malkan on May 28 only on Moneycontrol. Register Now!

First Published on May 21, 2020 08:28 pm
Sections
Follow us on