Update On Bajaj Auto Ltd By Sushil Finance
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
We had initiated coverage on Bajaj Auto Ltd on January 27, 2020 at a market price of Rs. 3,093 for a target price of Rs 4,006, showcasing an upside of ~30%. Subsequently, after the Q4FY20 and Full Year FY20 results, we introduced our estimates for FY23E and revised our target price to Rs. 4,050. The upside expected at the time was ~57% over the market price of Rs. 2,577, over a 24-36 month horizon.
With the recent run up in the overall markets and the stock in particular, Bajaj Auto has made its 52 week high today and is currently trading at Rs. 4,061, breaching our target price and yielding a return of 31% from our initiation price.
Since the stock has performed so well and has achieved our target price we recommend our investors to book profits in Bajaj Auto at current levels as we close our recommendation on the stock and change the rating to Neutral .
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer
Member : BSE/ NSE/ MSEI. SEBI Registration No.-INZ000165135.
Above views are of the author and not of the website kindly read disclaimer
