Emkay Global gives Bajaj Auto buy rating, sets ₹13,100 target
Emkay Global is feeling positive about Bajaj Auto, giving its stock a buy rating and setting a target price of ₹13,100.
This comes after Bajaj Auto posted 34% revenue growth in the second quarter, mostly driven by more bikes sold and higher prices.
Even with rising costs, the company kept its profit margins strong by smart pricing and taking advantage of export-friendly currency rates.
Bajaj Auto targets 250,000 monthly exports
Exports really boosted Bajaj Auto's numbers this quarter, with 780,000 units shipped out and a goal to keep monthly exports at 250,000 units.
The company also raised prices in October to help balance out rising costs.
Looking ahead, the Indian two-wheeler market is expected to keep growing (though not as fast), so Bajaj is expanding capacity, and analysts have bumped up their future earnings estimates, even if they're being a bit cautious due to economic ups and downs.