Bajaj Auto surges 5%, hits record high in weak market on healthy Q2 margin

Bajaj Auto said the margin in Q2 was driven by better realisation and a richer product mix, which more than covered the drag arising from investments on growing electric scooters.

Shares of Bajaj Auto hit a record high of Rs 5,393.30, surging 5 per cent on the BSE in Thursday’s intra-day trade in a weak market on strong September quarter (Q2FY24) earnings.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin beat analyst estimates at 19.8 per cent, up 260 bp year-on-year (YoY) in the recently concluded quarter. The healthy EBITDA margin was led by favorable raw material costs and a better product mix (high 3W contribution).



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