Export momentum, premium bike launches lift optimism for India's Bajaj Auto

Bajaj Auto

07/05/2026 05:13

** Shares of India's Bajaj Auto BAJA.NS rise 3.04% to 10,633 rupees

** Two-wheeler maker reported fourth-quarter profit and revenue above analyst estimates; Q4 profit climbed 34% y/y

EXPORT MOMENTUM, PREMIUM BIKES DRIVE OPTIMISM

** Goldman Sachs ("buy"; TP: 11,700 rupees) says new premium motorcycle launches and export growth should help offset commodity cost pressures and support margins

** Macquarie ("outperform"; TP: 10,356 rupees) says co well placed to benefit from resilient exports and premium motorcycle demand despite signs of domestic demand moderation

** JPMorgan ("neutral"; TP: 9,780 rupees) says gross-margin-led earnings beat and 100% payout were positives, while sustainability of volume growth and marketing spends remain key monitorables

** Nomura ("neutral"; TP: 10,928 rupees) says strong export momentum and new bike launches remain key growth drivers, but warns cost inflation could pressure margins in near term

** Jefferies ("hold"; TP: 10,500 rupees) says rising commodity prices may weigh on near-term margins, though Bajaj's diversified portfolio should support profitability

(Reporting by Surbhi Misra in Bengaluru)

((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))