India's Bajaj Auto rises on upbeat quarterly profit, on track for third weekly gain
BUZZ-India's Bajaj Auto rises on upbeat quarterly profit, on track for third weekly gain ** Shares of Bajaj Auto BAJA.NS up 7.4% at 11,210.5 rupees so far this week
** Stock set for a third consecutive weekly gain, if current trend holds
** The Indian automaker's first-quarter profit rises 42.3% to 29.83 billion rupees ($309.04 million) on strong domestic and overseas demand
** Earlier this week, the company said it expects to launch electric motorcycles in fiscal 2028 and expand production of its Chetak EV scooter
** Brokerages say Bajaj Auto's quarterly results beat estimates on strong margins, cost control and export momentum, although some flag concerns over rising costs and domestic motorcycle market share losses
** Stock rated "buy" on average by 39 analysts; median PT of 11,639 rupees, according to LSEG-compiled data
** YTD, stock up 19.7%
($1 = 96.5250 Indian rupees)
(Reporting by Mridula Kumar in Bengaluru)
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