Bajaj Auto shares surge 2% on launch of new Pulsar NS400Z
Touted to be the ‘biggest’ Pulsar—NS400Z is powered by a 373 engine.
Touted to be the ‘biggest’ Pulsar—NS400Z is powered by a 373 engine.
The share price of the three-wheeler manufacturer tumbled after brokerages say that the stock price has already run way ahead of its target prices and the company’s valuation might be expensive.
Bajaj Auto sold a total of 10.6 lakh units in Q4, up 24% YoY; proposes a final dividend of ₹80 apiece
The auto major’s profit and revenue grew 37% and 30%, respectively, in Q3 FY24, driven by strong growth in operating profit and surge in volume.
Bajaj Auto will buyback 40 lakh shares at ₹10,000 apiece, a 43.14% premium over yesterday’s closing price
The Bajaj Auto board will meet on January 8, 2024, to consider a fully paid-up equity shares buyback proposal
In November, Eicher Motors sold 80,251 units of Royal Enfield motorcycles, up 13%, as against 70,766 units in the same period last year.
JP Morgan raised the target price of Bajaj Auto from ₹6,100 to ₹6,400, whereas the target price for Hero MotoCorp has been revised from ₹3,500 to ₹3,750.
During the quarter under review, the revenue from operations stood at ₹10,777 crore, up 6%, as against ₹10,203 crore in the corresponding period of the previous year.
The weakness in auto stocks was in sync with the broader market.