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Bajaj Auto hits new high in an otherwise weak market
Posted on 30th November 2017
Bajaj Auto hit a new high of Rs 3,372, up 1.7% on the BSE in intra-day trade in an otherwise weak market. At 10:18 AM; the stock was the top gainer among the Sensex, up 1% at Rs 3,354. On comparison, the S&P BSE Sensex was down 0.69% at 33,371.

In past three months, Bajaj Auto has outperformed the market by gaining 22% against 5.5% rise in the benchmark index.

Motilal Oswal Securities maintain ‘buy’ rating on the stock with target price of Rs 4,197 as the brokerage firm believes Bajaj Auto back on recovery path as volume growth coupled with improving mix to drive margin expansion.

“We believe Bajaj Auto is back on the growth path, driven by regulatory changes in key domestic passenger three wheeler states providing strong medium term growth visibility, filling up of product gaps in domestic motorcycle portfolio helping to regain lost market share, stability in key export markets and ramp-up in new markets driving export sales. We expect volume CAGR of around 10% over FY17-20,” the brokerage firm said in recent report.

The worst of volumes and margins are behind. Volumes should revive in domestic as well as export markets from 2HFY18. Given increase in cash levels, we believe there is scope for increase in payout, which could act as a re-rating trigger, added report.

Meanwhile, according to CNBC TV18 report Bajaj Auto’s quadricycle may hit Indian roads in a couple of months. The road transport ministry is likely to release a final notification allowing the production of quadricycles in India by January next year.

Related Companies: Bajaj Auto Limited   

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Posted on 23rd July 2018
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Air India apologises for denying Indian table tennis team to board flight
Posted on 23rd July 2018
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BSNL sold 4,000 satellite phones in last year; aims to sell 10,000 handsets by March 2019
Posted on 23rd July 2018
A year since the high-profile launch of its satellite phone services, BSNL has sold 4,000 handsets, majority to government agencies, and expects the number to reach 10,000 by March 2019 riding on fresh demand from corporates and states for the premium service, its Chairman Anupam Shrivastava said.

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