India's Bajaj Auto rises after Emkay upgrades to 'buy'

Bajaj Auto

06/01/2026 05:25

** Shares of Bajaj Auto BAJA.NS rise as much as 3% to 9,783.50 rupees, highest since Nov. 2024

** Emkay Research upgrades BAJA to 'Buy' from 'Add', increases PT to 11,100 rupees, implying an upside of ~17%

** Co's supported by strong export trends and a refreshed Pulsar launch in CY26, driving an estimated 14% EPS CAGR over FY26-28

** Export momentum remains robust in Latam and Asia, aided by currency depreciation, with exports forming ~44% of volumes in FY26YTD vs 39% in FY25YTD

** Domestically, market saw recovery with a slight uptick led by gains in premium motorcycles and e-scooters during Q3FY26

** Analysts have "hold" rating on avg; median PT is 9,537.50 rupees - data compiled by LSEG

** In 2025 BAJA up 6.2%

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))