BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Nirmal Bang maintains accumulate on Bajaj Auto
Bajaj Auto's Q4 earnings were in line with estimates. Raw material cost has bottomed out, so we expect EBITDA margin to be 20.2 per cent for next two years compared to 21.1 per cent in FY16.We have cut FY17 earnings estimate by 8 per cent, largely on account of a 9 per cent reduction in volume estimates.