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    Buy Bajaj Auto; target of Rs 5600: Sharekhan

    Sharekhan is bullish on Bajaj Auto has recommended buy rating on the stock with a target price of Rs 5600 in its research report dated July 25, 2023.
    Broker Research
    July 28, 2023 / 16:28 IST
    Buy

    Sharekhan's research report on Bajaj Auto

    Bajaj Auto’s (BAL’s) reported PAT stood at Rs 1665 crore in Q1FY24 against estimate of Rs. 1670 crore on maintaining EBITDA margin at ~19%. With the Triumph 400 cc, BAL has now ventured into the realm of iconic premium motorcycles, expanding its dominance from the mass premium motorcycles. Stock trades at a P/E multiple of 18.3x and EV/EBITDA multiple of 12.5x its FY25 E estimates.

    Outlook

    We maintain a Buy on Bajaj Auto (BAL) with an unchanged target price of Rs. 5,600 owing to its superior profitability, play on premiumisation and expectation of gradual export recovery.

    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.

    Bajaj Auto - 26 -07 - 2023 - khan

    Broker Research

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