Shares of Hero MotoCorp have soared 18 per cent in the past one month
Bajaj Auto's Board has board approved Rs 4,000-crore share buyback at Rs 10,000 per share
Closing Bell on Tuesday, January 09: Among sectors, the Nifty Media index crashed the most, falling 3.4 per cent, amid a slide in ZEEL shares (down 8%), Dish TV (5%), and Hathway (3%)
Zee Entertainment is seen trading below its key moving averages on the daily scale following today's sharp intra-day fall of over 13 per cent, shows chart.
Stocks to Watch on January 9, 2024: Sony Group Corp is planning to call off the merger pact of its India unit with Zee Entertainment, reported Bloomberg
The company will be buying 4 million shares via the tender route, representing 1.41 per cent of Bajaj Auto's outstanding shares
Under the Securities and Exchange Board of India (Sebi) regulations, the maximum limit for a buyback is 25 per cent or less of the paid-up capital and free reserves in that financial year
Earlier this month, Bajaj Auto reported a 16 per cent rise in total sales at 3,26,806 units in December 2023
With today's gain, the market price of Bajaj Auto has zoomed 96 per cent in the past one year, as against nearly 17 per cent surge in the S&P BSE Sensex
Pune-based Bajaj Auto said that it recorded a 26 per cent jump in two-wheeler (2Ws) domestic sales (Y-o-Y) in December at 158,370 units
In 2023, Maruti Suzuki launched the Baleno-based crossover, Fronx, Brezza's facelift, and an all-new Grand Vitara in the SUV space and grabbed more than 50% share of the segment
There are two discernible trends in the competitive electric two-wheeler market
Among individual shares, Bajaj Finance and Bajaj Finserv look ripe for further upside, while Bajaj Auto may witness some consolidation in the near-term, hint charts.
Bajaj Auto also reported an impressive jump of 81% Y-o-Y for commercial vehicles, which went up from 177,671 to 321,140 units for November 2023
Bajaj Auto reported the highest-ever domestic commercial vehicle sales in October 2023, which were up 39%
On the profitability front, favourable raw material costs and better product mix led to a 260 basis points y-o-y jump in operating profit margins to 19.8 per cent
Charts suggest that Bajaj Auto can potentially rally up to 7 per cent from present levels, while Bajaj Finance, Bandhan Bank and Wipro can tumble up to 21 per cent.
Bajaj Auto said the margin in Q2 was driven by better realisation and a richer product mix, which more than covered the drag arising from investments on growing electric scooters.
Stocks to watch on Thursday, October 19, 2023: FMCG majors ITC, Hindustan Unilever and Nestle also likely to be in focus ahead of Q2 results today.
After Diwali, Bajaj Auto plans to introduce six new products and upgrades in the 125 cc plus category