Bajaj Auto share price rallies 4% to hit 52-week high after Q2 results

In this article, we will talk about the Bajaj Auto shares. Bajaj Auto is a very well-known company. Bajaj Auto Limited is an Indian multinational automotive manufacturing firm which has been based in Pune. It simulates motorcycles, scooters, and auto rickshaws. Bajaj Auto is a part of the Bajaj Group. It was established by Jamnalal Bajaj in Rajasthan in the 1940s. Now lots of people are searching about the company name on the internet as they want to know Bajaj Auto shares. We have more information about the news and will share it with you in this article.

Bajaj Auto

Bajaj Auto shares rebounded more than 4% to hit a 52-week increase in early trade on Thursday after the company notified its Q2 results. Bajaj Auto’s share cost increased as much as 4.85% to 5,393.30 per on the BSE. The company declared a standalone net earning of 1,836.14 crore in the second quarter of FY24, registering a development of 20% from 1,530 crore in the year-ago period. The firm’s income from functions in Q2FY24 rose 5.6% to 10,777.27 crore from 10,203 crore in the related period the previous year. Scroll down to the next page for more information about the news.

In the statement, Bajaj Auto said the payment development was underpinned by two-volume growth, with the supported buoyancy on the domestic front cushioning the weak, albeit enhancing export performance. At the operating level, EBITDA during the quarter increased 21.3% to 2,132.8 crores from 1,758 crores, YoY, while EBITDA by 260 bps to 19.8% from 17.2%, YoY. Scroll down to the next page for more information about the news.

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Nuvama Institutional Equities

Bajaj Auto published beneficial Q2FY24 EBITDA and PAT, largely in line with anticipations. The two-wheeler volume prospects remain positive and we hope 7% CAGR more than FY23-26E, directed by restarting domestic development and rescue in exports. It believes the firm would underperform peers such as TVS Motors, owing to its weak presence in scooters. The company had a hold rating and increased the target cost to 5,380 per share from 5,100 earlier.

Motilal Oswal Financial Services

Bajaj Auto reported a 2QFY24 EBITDA of 21.3 billion, in line with our calculations, as better-than-expected gross margins had been canceled by smaller-than-expected completion. We hope a rescue in dome-side risk continues given an indefinite macroeconomic background and geopolitical tensions. The brokerage decided “Sell” rating on the stock as the most optimistic have been costed in at CMP. It increased the mark worth to 4,500 each share from 4,350 earlier. Here we have shared all the information that we had. Stay tuned to us for more updates.

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Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.