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Bajaj Auto Ltd. (BAJA.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 60 days.
This is because of an earnings release. Bajaj Auto posted 14% YoY growth with domestic up 4% and exports up 35%.
Within domestic the mix improved with higher sales of Pulsar bikes. We expect the stock to outperform the market in the
coming month as the company targets 400k units next month, which implies 21% YoY growth as it launches a new bike
“Boxer”. The stock trades at 15x FY12e and we maintain our Equal-weight rating on the stock.
We estimate that there is about a 60% to 70% or "likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Equal-weight
Industry View: In-Line
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Bajaj Auto Ltd. (BAJA.BO)
Research Tactical Idea
We believe the share price will rise relative to the country index over the next 60 days.
This is because of an earnings release. Bajaj Auto posted 14% YoY growth with domestic up 4% and exports up 35%.
Within domestic the mix improved with higher sales of Pulsar bikes. We expect the stock to outperform the market in the
coming month as the company targets 400k units next month, which implies 21% YoY growth as it launches a new bike
“Boxer”. The stock trades at 15x FY12e and we maintain our Equal-weight rating on the stock.
We estimate that there is about a 60% to 70% or "likely" probability for the scenario.
Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
scenario.
Stock Rating: Equal-weight
Industry View: In-Line
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