Company: Bajaj Auto Ltd. Category: Broker Research


Mahindra & Mahindra: Tractor wholesales in line at 47.4k units. Domestic volume up 17% YoY, exports up 2% YoY.
Nov. 2, 2018, 11:04 a.m.
Publisher: motilaloswal.com

We maintain our BUY recommendation on the stock with a revised Target Price of Rs3015, valuing it at 16x FY20E EPS and adding Rs150/share for stake in KTM.
Oct. 26, 2018, 11:20 a.m.
Publisher: trade.rsec.co.in

BAL has reduced price of its entry level motorcycle CT 100 by ~Rs2000 (7% price cut) which contributes 14% of its overall volumes. BAL management has clearly highlighted that price cut in entry level segment is obvious strategy to increase its domestic motorcycle market share from 16% to 25% in the next 2-3 years.
July 25, 2018, 10:35 a.m.

We studied Bajaj Auto’s (BJAUT) FY18 annual report to get insights into: (a) management’s view on the domestic motorcycle business, (b) drivers and sustainability of exports, (c) Fx hedging and (d) utilization of cash.
July 19, 2018, 11:28 a.m.
Publisher: motilaloswal.com


The domestic 2W industry is expected to grow at a CAGR of ~10% until FY22, led by the Scooter (CAGR of 12-14%) and Motorcycle (CAGR of 8-9%) segments.
July 16, 2018, 10:37 a.m.
Publisher: motilaloswal.com

BJAUT’s Apr-18 sales increased 25.9% YoY to 415.2k units, exceeding our estimate of 330.5k units.
May 2, 2018, 11:42 a.m.
Publisher: motilaloswal.com

MSIL’s Feb-18 wholesales came in line at 149.8k units (+15% YoY, -1% MoM). YTDFY18 growth was at 13.2%, with a residual monthly run-rate of 164.7k units.
March 1, 2018, 12:46 p.m.

Sector Update: Automobiles - Motilal Oswal
Nov. 2, 2017, 10:17 a.m.

Bajaj Auto: Robust volume outlook
Oct. 18, 2017, 11:13 a.m.
Author : Sharekhan | Publisher: sharekhan.com

Regulatory actions (demonetization, emission norm changes and pre-GST destocking) had materially influenced auto volumes since 3QFY17. However, given the waning regulatory impact, the automobile sector has witnessed gradual volume growth August onward. This was partly led by pre-festive inventory filling and positive rural sentiment in key markets.
Oct. 12, 2017, 4:20 p.m.

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