Bajaj Auto shares jumped 2.65 per cent or ₹222.60 to ₹8,621 on the NSE right now at 10.35 am, following the discharge of its third-quarter outcomes. The 2-wheeler producer reported a slight decline in internet revenue to ₹2,018.7 crore in comparison with ₹2,042 crore in the identical quarter final 12 months, lacking analyst estimates of ₹2,128 crore.
The corporate’s income elevated to ₹12,807 crore from ₹12,114 crore year-on-year, whereas EBITDA got here in at ₹2,581 crore with a margin of 20.2 per cent, exceeding market expectations of 19.6 per cent.
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Main brokerages supplied divergent views on Bajaj Auto’s prospects. Whereas Morgan Stanley maintained an ‘Obese’ ranking with a goal worth of ₹9,951, citing optimistic administration outlook on home bike development and export restoration, Citi and Axis Capital beneficial ‘Promote’ with goal costs of ₹7,900 and ₹7,550 respectively, pointing to wealthy valuations and market share issues.
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Administration expressed optimism about home bike business development of 6-8 per cent and export development exceeding 20 per cent going ahead. The corporate additionally reported that its EV portfolio, together with PLI good points, has turned EBITDA optimistic, with the brand new Chetak 35 platform contributing to margin enchancment.
