Bajaj Auto Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 87736.08 Crore) operating in Auto sector.
By ETMarkets.com | Updated:
Agencies
Promoters held 53.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 13.6 per cent, DIIs 10.4 per cent and public and others 22.3 per cent
Edelweiss has given a hold rating to Bajaj Auto with a target price of Rs 3064. The share price moved up by 0.63 per cent from its previous close of Rs 2100.25. The stock’s last traded price is Rs 2113.45.
Bajaj Auto Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 87736.08 Crore) operating in Auto sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 7041.48 Crore, up 138.81 % from last quarter Sales of Rs 2948.52 Crore and down -6.10 % from last year same quarter Sales of Rs 7499.21 Crore. Company reported net profit after tax of Rs 1137.69 Crore in latest quarter.
Investment Rationale The brokerage estimates flat core EPS growth over FY20–22, reflecting near-term demand uncertainty. It maintains ‘HOLD/SP’ with a TP of INR3,064, valuing the stock at 17.5x March 2022E core EPS of INR126, cash/share of INR763 and KTM at INR100. The stock is trading at 21.3x/18.4x FY21/22E EPS.
Promoter/FII Holdings Promoters held 53.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 13.6 per cent, DIIs 10.4 per cent and public and others 22.3 per cent
