Neutral on Bajaj Auto, target price Rs 4000: Motilal Oswal

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Neutral on Bajaj Auto, target price Rs 4000:  Motilal Oswal


Motilal Oswal has neutral call on Bajaj Auto with a target price of Rs 4000. The current market price of Bajaj Auto Ltd. is Rs 3822.6.

Bajaj Auto Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 107161.29 Crore) operating in Auto sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 8730.10 Crore, up 23.98 % from last quarter Sales of Rs 7041.48 Crore and up 17.40 % from last year same quarter Sales of Rs 7436.42 Crore. Company reported net profit after tax of Rs 1555.30 Crore in latest quarter.

Investment Rationale
Valuations at 17.9x/16.6x FY22E/FY23E consolidated EPS largely capture the strong growth momentum. The brokerage maintains Neutral, with a TP of INR4,000/share


Promoter/FII Holdings
Promoters held 53.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 13.6 per cent, DIIs 10.4 per cent and public and others 22.3 per cent





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