Among individual shares, Bajaj Finance and Bajaj Finserv look ripe for further upside, while Bajaj Auto may witness some consolidation in the near-term, hint charts.
Bajaj Auto also reported an impressive jump of 81% Y-o-Y for commercial vehicles, which went up from 177,671 to 321,140 units for November 2023
Bajaj Auto reported the highest-ever domestic commercial vehicle sales in October 2023, which were up 39%
On the profitability front, favourable raw material costs and better product mix led to a 260 basis points y-o-y jump in operating profit margins to 19.8 per cent
Charts suggest that Bajaj Auto can potentially rally up to 7 per cent from present levels, while Bajaj Finance, Bandhan Bank and Wipro can tumble up to 21 per cent.
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.
Stocks to watch on Thursday, October 19, 2023: FMCG majors ITC, Hindustan Unilever and Nestle also likely to be in focus ahead of Q2 results today.
After Diwali, Bajaj Auto plans to introduce six new products and upgrades in the 125 cc plus category
The company's total income for Q2FY24 came in at Rs 11,206.84 crore, compared to Rs 10,536.56 crore year-on-year
Closing Bell on Wednesday, October 18, 2023: Brent crude futures jumped 3 per cent after Iran called for sanctions and oil embargo against Israel
This contrasts sharply with the passenger vehicle (PV) market, where automotive manufacturers are posting record sales numbers
Domestic commercial vehicle (CV) sales for Bajaj Auto grew by 60 per cent Y-o-Y as the automaker sold 50,683 units in September 2023, compared to 31,752 units sold in September 2022
Stocks to watch on Friday, September 29, 2023: Shares of Adani Group to be in focus amid reports that Abu Dhabi conglomerate IHC plans stake stake in Adani Green and Adani Energy Solutions.
The bike is available in three colours: Racing Red, Ebony Black, and Metallic Pearl White
In the premium segment, where the motorcycles are priced at prices above Rs 1.7 lakh, Bajaj has sold about 8,000 units per month
Buyers at "the bottom of the pyramid" who were hit by the Covid pandemic, job losses and rising petrol price, are not coming back, Bajaj said
Thus far in the calendar year 2023, the stock price of Bajaj Auto has appreciated by 41%, as compared to a 10.7% rise in the S&P BSE Sensex and a 27.7 per cent surge in the S&P BSE Auto index
Bajaj Auto on Friday said its total vehicle sales, including sale of commercial vehicles, declined 15 per cent to 3,41,648 units in August. The company had reported total sales of 4,01,595 vehicles in August last year. The total domestic sales dropped 20 per cent to 2,05,100 units in the previous month as compared to 2,56,755 units sold in August 2022, Bajaj Auto Ltd said in a statement. Total vehicle exports fell 6 per cent year-on-year to 1,36,548 units in August from 1,44,840 units shipped to the overseas markets in the year-ago period, it said. Its total two-wheeler sales declined 20 per cent to 2,85,031 units in the previous month from 3,55,625 units sold in August 2022. Two-wheeler exports, however, increased 2 per cent to 1,24,211 units in August 2023 as against 1,21,787 units in the same month last year.
LIC decreased its shareholding from 5.2% to 3.17% in Bajaj Auto Ltd
Bajaj-Auto, HIndalco, Dr. Reddy's Laboratories, NTPC, and IDFC First Bank may rally up to 15 per cent, show technical charts