Reduce Bajaj Auto, target price Rs 3857: HDFC Securities
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over 1 year ago
For Bajaj Auto (BAL), Q4 has been a relatively difficult quarter given: 1) 12% YoYdecline in volumes 2) sharp deterioration in exports mix to 40% of total from 44.7%in Q3FY23 and 60.2% in Q4FY22. The impact from this is likely to be partially offsetby improved domestic mix in favor of >125cc bikes and higher mix of 3Ws. Thecurrency (USD-INR) has largely remained stable.
Economic Times