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Published on 25/01/2021 12:15:06 PM | Source: Sushil Finance Ltd

Update On Bajaj Auto Ltd By Sushil Finance

Posted in Special Event Reports| #Bajaj Auto Ltd #Auto Sector #Sushil Finance #Company Result

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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 .

 

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