Profit

BSE Code: | NSE Code: | ISIN: | Sector:

NSE
2788.70
Change Change %
29.40 1.07%

Updated:25 Sep, 2018, 15:55 PM IST

BSE
2787.95
Change Change %
31.60 1.15%

Updated:25 Sep, 2018, 16:01 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Nomura
N/A
28-07-2015 Hold 2476.05 2410.00
N/A
Target Hit Custom
28-07-2016

Nomura Maintains Neutral on Bajaj Auto

Nomura has maintained its 'neutral' rating on Bajaj Auto for target price of Rs 2,410. Nomura has increased its target price from Rs 2,144. Nomura expects domestic two-wheeler industry growth to remain in the mid-single digits in FY16F. The competition threat from Honda is likely to persist. The potential increase in scooter mix does not augur well for Bajaj Auto. The company is likely to sustain 10-12% volume growth in the export markets over the next two years.  

Nomura adds that Bajaj Auto is not present in the high growth scooter segment, the company needs to continue to gain market share in the motorcycle segment to deliver high growth. This in our view may be difficult. Overall, we expect a volume CAGR of 10% for Bajaj Auto over FY15-17F.  

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