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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 21st April 2018
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PNB impounds passports of 150 wilful defaulters
Posted on 21st April 2018
NEW DELHI: Punjab National Bank (PNB), the country’s second-largest public sector lender + , has impounded passports of 150 wilful loan defaulters apart from lodging 37 FIRs against those who are not repaying loans as part of its recovery drive.

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