Bajaj Auto shares advanced 3.3 per cent on BSE, logging an intraday high at Rs 9178.5 per share. The buying in the stock came after DAM Capital upgraded its rating from 'Sell' to 'Buy' for Bajaj Auto for a target of Rs 9,750 per share.
Around 10:43 AM, Bajaj Auto share price was up 2.99 per cent at Rs 9144.5 per share on BSE. In comparison, the BSE Sensex was up 0.70 per cent at 79,025.41. The market capitalisation of the company stood at Rs 2,55,367.12 crore. The 52-week high of the stock stood at Rs 12,772.15 per share and the 52-week low stood at Rs 6,560.05 per share.
As per reports, DAM Capital expects a recovery in the auto sector in FY26E due to favourable macros, comfortable valuation after a sharp correction, and favourable risk-reward. The brokerage's channel check suggests a recovery in the rural segment, while the urban slowdown is expected to continue.
Bajaj Auto November sales
Bajaj Auto reported a 5 per cent year-on-year (Y-o-Y) growth in total vehicle sales, including exports, at 421,640 units in November. The Pune-based automaker had sold 403,003 units in November 2023, according to a company statement.
Total domestic sales (including commercial vehicles) declined 7 per cent at 240,854 units in the previous month, as compared to 257,744 units sold in the same month last year.
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Total exports during the month under review rose 24 per cent at 180,786 units, from 145,259 vehicles shipped out to overseas markets in November 2023, according to the statement.
The total two-wheeler volume (domestic and exports) in November 2024 stood at 368,076 units, an increase of 5 per cent over 349,048 units sold in the same month of last year.
Bajaj Auto Limited is one of India's leading automobile manufacturers, known for its expertise in motorcycles, scooters, and three-wheelers. Established in 1945 and headquartered in Pune, Maharashtra, Bajaj Auto is a part of the Bajaj Group and has a significant global presence in over 70 countries.
In the past one year, Bajaj Auto shares gained 32 per cent against Sensex's rise of 9 per cent.