India's Bajaj Auto gains on hopes of recovery in domestic two-wheelers segment

Motilal Oswal Financial Services

08/03/2023 06:43

** Shares of Bajaj Auto  BAJA.NS  rise as much as 1.92% to
3794.65 rupees, their highest since Feb 27
    ** Bajaj stock is among the top gainers in Nifty 50  .NSEI 
and Nifty Auto  .NIFTYAUTO  indexes
    ** Current valuations reflect attractive risk-reward, says
JPMorgan and expects improvement in product mix to drive margin
expansion
    ** Domestic brokerage firm Motilal Oswal expects exports to
recover from Q2FY2024
    ** Co is well-placed in domestic motorcycle market with the
easing of supply-side issues: Motilal Oswal
    ** Both domestic and export volumes to recover in FY24 and
drive healthy earnings recovery: Motilal Oswal
    ** About 228,286 shares change hands, 0.6x the 30-day avg of
383,221 shares - Refinitiv data
    ** Of the 41 analysts tracking BAJA, 25 maintain "buy", four
suggest "sell" and 14 recommend "hold"; median TP is 4,237
rupees - Refinitiv data


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))