Bajaj Auto Limited

The report lists Bajaj Auto among the day's top losers, down 0.85-1.79%.

Bajaj Auto is listed under long buildup with LTP 10534, up 0.76%, and OI change of 10.6%.

The report lists Bajaj Auto among the top gainers, up 2.42-6.78%.

The report lists Bajaj Auto among the top gainers on the day, up 0.82-1.74%.

The report lists Bajaj Auto as a top gainer in Nifty 50, up 0.82% to 10,155.

The report includes Bajaj Auto as a 20% weighted constituent of its EV Value Chain basket idea.

The report lists Bajaj Auto among the top gainers, up 1.31-2.71%.

The note says its call open interest is at a record high and 1.8x the 20-day average.

Included at 20% weight in the note's 12-month EV value chain basket targeting 15-20% upside.

The report notes Bajaj Auto's consolidated net profit fell 31.4% to Rs 1,385.44 crore in Q2 FY25 due to a one-time deferred tax payment, while revenue grew 22.2% to Rs 13,247.28 crore and EBITDA rose 24% YoY to a record Rs 2,653 crore.

The note says Bajaj Auto recorded a decline in September two-wheeler sales.

The report notes Bajaj Auto sales of 5.28 lakh units (up 5% YoY) but lists the stock among those showing weakness in the derivative outlook and among disappointing September sales names dragging the Nifty Auto Index.

The note says 1QFY25 was an in-line quarter with EBITDA margin at 20.2% (+130bps YoY) aided by favourable mix, cost reduction and PLI incentive, and it maintains BUY with a raised target of INR 11,000 (from INR 10,850), estimating revenue/EPS CAGR of 15%/17% over FY24-27E while flagging delayed export recovery as a key risk.