bajaj auto share value: Bajaj Auto shares drop 4% after November gross sales knowledge launch

Shares of two/3-wheeler main dropped over 4% to Rs 3,595.5 in Thursday’s intraday commerce on the BSE after the corporate reported a 19.3% fall in November gross sales.

Gross sales of Bajaj Auto stood at 3.06 lakh items in November 2022 in opposition to 3.79 lakh items in November 2021. Its exports additionally fell 30% to 1.53 lakh items within the final month in opposition to 2.20 lakh items within the corresponding month of the final yr. Home gross sales additionally slipped 4% to 1.52 lakh items in November this yr in opposition to 1.58 lakh items in the identical interval final yr.

The Nifty Auto index right now fell as much as 0.52% as November gross sales knowledge began trickling in.

, Bharat Forge, Bajaj Auto and Samvardhana Motherson Worldwide have been the highest losers, whereas Forging, TII India, and have been the highest gainers.

At 2.36 pm, the scrip was buying and selling 1.23% decrease at Rs 3,704 over its earlier day’s closing value of Rs 3750.3 apiece. It has surged practically 13% year-to-date, whereas it has given a flat return within the final six months.

As per Trendlyne knowledge, the very best goal value for the inventory goes as much as Rs 4,800, whereas the typical goal value estimate is at Rs 4,057, which exhibits an upside potential of 10% from the present market costs.

Out of the 41 analysts overlaying the inventory, 22 have robust ‘purchase’ and ‘purchase’ rankings, whereas solely 4 have robust promote and promote rankings and 15 have maintain rankings.

Within the second quarter of this fiscal, Bajaj Auto reported a 20% YoY rise in internet revenue to Rs 1,530 crore. The entire income from operations elevated 16.4% to Rs 10,202.8 crore.

The corporate offered 11,51,012 items within the final quarter, in contrast with 11,44,407 items a yr in the past and 933,646 items in Q1. The earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) grew 25.5% on-year to Rs 1,759 crore, with the working margin increasing by a pointy 125 foundation factors to 17.2%.

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