Bajaj Auto - Diversified Business Model With Sound Balance Sheet; Exports Recovery Impending: Axis Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Bajaj Auto Ltd.’s focus on the 125cc+ segment is in line with the changing industry dynamics, where the share of commuter motorcycles is declining (~60% of total domestic sales in FY16, coming down to 50% in FY23). Bajaj Auto through its exclusive dealership networks for KTM, Bajaj Motorcycles, Chetak Electric, and three-wheelers offers differentiated customer experience and preserves brand value. The recent Triumph launch will also be marketed through the exclusive Triumph network, and we expect it to plug the gap in the portfolio. Bajaj Auto has robust domestic IC engine franchise, however, export pickup, and establishing market share through successful electric vehicle-two-wheeler/three-wheeler launches will be the key monitorable for the stock. We maintain our 'Buy' rating on the stock and continue to value the stock using 17 times price/earning on core June-25E earnings per share plus Pierer Mobility AG stake and cash reserves at one time book value..Click on the attachment to read the full report:.Jamna Auto - A Proxy Infra Play, High Return Ratios, Inexpensive Valuations: ICICI Direct.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bajaj Auto - Diversified Business Model With Sound Balance Sheet; Exports Recovery Impending: Axis Securities

The management continued to focus on the EV and premium motorcycle and as a result, Capex stood higher in FY23.

Choose a plan