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Sell Bajaj Auto, target Rs 2635: Dr CK Narayan

Sell Bajaj Auto Ltd. at a price target of Rs 2635.0 and a stoploss at Rs 2690 from entry point.

ETMarkets.com|
Updated: Jan 08, 2019, 08.53 AM IST
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Dr CK Narayan of Chart Advise has a sell call on Bajaj Auto Ltd. with a target price of Rs 2635 The current market price of Bajaj Auto Ltd. is Rs 2657.4.Time period given by the analyst is Intra Day when Bajaj Auto Ltd. price can reach defined target. Dr CK Narayan recommended to keep stoploss at Rs 2690. Bajaj Auto Ltd., incorporated in 2007, is a largecap company with a market cap of Rs 76896.39 crore.

Bajaj Auto Ltd. key Products/Revenue Segments include Automobile - 2 & 3 Wheelers which contributed Rs 25098.64 Crore to Sales Value (98.18 % of Total Sales), Export Incentives which contributed Rs 343.43 Crore to Sales Value (1.34 % of Total Sales), Royalty Income which contributed Rs 98.68 Crore to Sales Value (0.38 % of Total Sales), Scrap which contributed Rs 21.31 Crore to Sales Value (0.08 % of Total Sales) and Other Operating Revenue which contributed Rs 1.20 Crore to Sales Value (0.00 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 7831.79 Crore, up 7.77 % from last quarter Sales of Rs 7267.19 Crore and up 21.21 % from last year same quarter Sales of Rs 6461.30 Crore Company has reported net profit after tax of Rs 1151.72 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.D S Mehta, Mr.Madhur Bajaj, Mr.Manish Kejriwal, Mr.Nanoo Pamnani, Mr.Niraj Bajaj, Mr.P Murari, Mr.Pradeep Shrivastava, Mr.Rahul Bajaj, Mr.Rajiv Bajaj, Mr.Sanjiv Bajaj, Mr.Shekhar Bajaj. Company has SRBC & Co LLP as its auditoRs As on 30-09-2018, 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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