With 25% market share, Bajaj Chetak secured poll position in the month of December 2024
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Nirmal Bang Report
Currently Bajaj Auto Ltd.'s stock is trading at a core PE of 23 times at FY27 numbers which we believe is providing a good entry point given the favorable risk reward.
We thus upgrade the stock to Buy from Sell valuing it at SOTP with core business valued at 28 times core earnings per share and cash of Rs 827/share to arrive at a target price of Rs 10,613. We build in the revenue/Ebitda growth of 14%/16% CAGR over FY24-27.
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