ICICI Direct's research report on Bajaj Auto
Bajaj Auto (BAL) is the second largest motorcycle manufacturer, largest 3-W OEM domestically (FY23 market share at 17.3%, 61.4% respectively). Exports comprised ~46% of FY23 volumes; 2-W:3-W mix at ~88:12 (overall) • Strong b/s with ~Rs 17,445 crore cash on books (March 2023 end), history of ~20% return ratios & one of the highest dividends yields among Nifty stocks.
Outlook
Revising our estimates, we now value BAL at Rs 4,530 on SOTP basis (15x PE on FY25E EPS, stake in PMAG; previous target: Rs 4,100).
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.
Discover 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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
