Add Bajaj Auto Ltd For the Target Rs. 9,975 by Choice Broking Ltd

View and Valuation:
GST rate cuts for two and three wheelers benefit ~50% of BJAUT’s portfolio, while there is no effect for the remaining portfolio that comprises exports and EV. On account of this, we revise our FY27/FY28 EPS estimates upwards by 1.8%/2.7% and arrive at our target price of INR 9,975. We value the company at 26x (maintained) on the average FY27/28E EPS and change our rating to ADD from BUY.
Financials:
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SEBI Registration no.: INZ 000160131









