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Buy Bajaj Auto, target Rs 2,875: CK Narayan

Buy Bajaj Auto Ltd. at a price target of Rs 2875.0 and a stoploss at Rs 2820 from entry point.

ETMarkets.com|
Updated: Sep 09, 2019, 08.55 AM IST
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CK Narayan of Chart Advise has a buy call on Bajaj Auto Ltd. with a target price of Rs 2875. The current market price of Bajaj Auto Ltd. is Rs 2839.8 Time period given by analyst is Intra Day when Bajaj Auto Ltd. price can reach defined target. CK Narayan recommended to keep stoploss at Rs 2820. Bajaj Auto Ltd., incorporated in 2007, has a market cap of Rs 82174.45 crore.

Bajaj Auto Ltd. key Products/Revenue Segments include Automobile - 2 & 3 Wheelers which contributed Rs 29567.25 Crore to Sales Value (97.74 % of Total Sales), Export Incentives which contributed Rs 457.07 Crore to Sales Value (1.51 % of Total Sales), Royalty Income which contributed Rs 128.67 Crore to Sales Value (0.42 % of Total Sales), Other Operating Revenue which contributed Rs 75.41 Crore to Sales Value (0.24 % of Total Sales) and Scrap which contributed Rs 21.56 Crore to Sales Value (0.07 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 7565.01 Crore, up 4.70 % from last quarter Sales of Rs 7225.20 Crore and up 4.10 % from last year same quarter Sales of Rs 7267.19 Crore Company has reported net profit after tax of Rs 1020.78 Crore in latest quarter. The company’s top management includes Dr.Gita Piramal, Dr.Naushad Forbes, Dr.Omkar Goswami, Mr.Anami Roy, Mr.D J Balaji Rao, Mr.Madhur Bajaj, Mr.Nanoo Pamnani, Mr.Niraj Bajaj, Mr.Pradeep Shrivastava, Mr.Pradip Shah, Mr.Rahul Bajaj, Mr.Rajiv Bajaj, Mr.Rakesh Sharma, Mr.Sanjiv Bajaj, Mr.Shekhar Bajaj, Mrs.Lila Poonawalla. Company has SRBC & Co LLP as its auditoRs As on 30-06-2019, the company has a total of 289,367,020 shares outstanding.

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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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