Sell Bajaj Auto, target price Rs 3500: Yes Securities

Sell Bajaj Auto, target price Rs 3500:  Yes Securities
Yes Securities has promote name on with a target price of Rs 3500. The present market price of Bajaj Auto Ltd. is Rs 3776. ., integrated within the 12 months 2007, is a Large Cap firm (having a market cap of Rs 109033.49 Crore) working in Auto sector.

Bajaj Auto Ltd. key Products/Revenue Segments embody Automobile – 2 & 3 Wheelers, Export Incentives, Other Operating Revenue, Royalty Income and Scrap for the 12 months ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the corporate reported a Consolidated Total Income of Rs 8324.54 Crore, up .74 % from final quarter Total Income of Rs 8263.70 Crore and up 7.90 % from final 12 months identical quarter Total Income of Rs 7715.34 Crore. Company reported internet revenue after tax of Rs 1163.33 Crore in newest quarter.

Investment Rationale
Failure to maintain above October 2021 peak and lagging Nifty Auto index recommend near-term weak spot.

Promoter/FII Holdings
Promoters held 53.77 per cent stake within the firm as of 30-Jun-2022, whereas FIIs owned 11.16 per cent, DIIs 12.4 per cent.

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