Bajaj Auto, the renowned two-wheeler manufacturer, has been on a remarkable upward trajectory, reaching new heights in recent weeks.
Record-breaking high
- The stock price surged to an all-time high of Rs 11,498 per share on September 11th.
- This marks a significant increase of over 17% in the past month, outperforming the benchmark Nifty 50 index.
- Bajaj Auto reported robust sales figures for August, with a 16% year-on-year growth in total vehicle wholesales.
- Domestic sales saw a substantial increase of 24% YoY to 2.53 lakh units in August.
- The company's overall sales for the current fiscal year have grown by 10% YoY.
Positive outlook and growth plans
- The management expects the industry to grow by 6-8%, with Bajaj Auto consistently outperforming this growth rate.
- The company plans to expand its EV distribution network from 500 to 1,000 stores.
- This expansion is expected to drive significant growth in Chetak sales.
Brokerage sentiment
- Bajaj Auto is closely followed by brokerage houses, with 18 recommending a 'buy' rating.
- Ten brokerages suggest a 'hold' rating, while 14 recommend a 'sell'.
Bajaj Auto's impressive performance and positive outlook make it an attractive stock for investors. However, it's essential to conduct thorough research and consider the risks associated with investing in the stock market before making any decisions. If you're interested in buying shares online of Bajaj Auto or other stocks, be sure to use a reputable brokerage platform and stay informed about market trends and company news.
