Bajaj Auto Share price: HSBC retains Buy rating and lifts target price to Rs 4000 from Rs 3500
Bajaj Auto Share price: Bajaj Auto reported an EBITDA margin of 19.8% (excluding CSR expenses), exceeding consensus yet again (seventh consecutive time) and showcasing its earnings resilience. Admittedly, the contribution from the high-margin exports business was strong in 3Q. However, the weakness in Bajaj Auto 3W sales (which is a higher-margin business) and increase in input costs did little to suppress profitability.
HSBC believes Bajaj Auto has strengthened its foundation, allowing it to benefit from the robust long-term growth opportunities in these underpenetrated markets: Reuters