Sharekhan's research report on Bajaj Auto
BAL reported better-than-expected operational performance for Q3FY2023, led by higher average sales realizations, improved US Dollar realization and a better product mix. The management remains positive on growth prospects in domestic markets, led by new launches, recovery in three-wheeler sales and improving industry prospects, while remaining concerned about exports in the near term. BAL is aiming to expand its EV business and indicating a launch of an electric 3-wheeler in near term.
Outlook
We maintain a Buy on Bajaj Auto Limited (BAL) with an unchanged PT of Rs. 4,151, factoring sustenance of strong operating profitability. The stock is currently trading at P/E of 14.8x FY2025E EPS and 9xFY2025EV/EBIDTA.
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