Bajaj Auto shares have been in uptrend after ushering in new financial year 2023-24. This auto major has been hitting life-time high for the last five days in a row. After hitting record high on previous four sessions, Bajaj Auto share price today opened upside and went on to hit new life-time high of ₹4,375 apiece on NSE. The auto major is going to announce its fourth quarter results today.
Bajaj Auto shares have been in uptrend after ushering in new financial year 2023-24. This auto major has been hitting life-time high for the last five days in a row. After hitting record high on previous four sessions, Bajaj Auto share price today opened upside and went on to hit new life-time high of ₹4,375 apiece on NSE. The auto major is going to announce its fourth quarter results today.
According to stock market experts, market is not expecting strong Q4 results from the company, but there is buzz about two wheeler and three wheeler theme working in auto segment in FY24. So, the Dalal Street is expecting improved volumes and margins of Bajaj Auto Ltd in the current fiscal. They said that Bajaj Auto is a good ‘buy on dips portfolio stock’ for medium to long term perspective.
According to stock market experts, market is not expecting strong Q4 results from the company, but there is buzz about two wheeler and three wheeler theme working in auto segment in FY24. So, the Dalal Street is expecting improved volumes and margins of Bajaj Auto Ltd in the current fiscal. They said that Bajaj Auto is a good ‘buy on dips portfolio stock’ for medium to long term perspective.
Why Bajaj Auto share price is surging?
On why Bajaj Auto share price is surging, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Bajaj Auto Ltd is expected to announce Q4FY23 results today. Even though market is not expecting strong quarterly numbers from the auto major, there is buzz about two wheeler and three wheeler theme working in auto sector during FY24. Apart from this, they have taken control over the high end two wheeler ‘Triumph’ and now Triumph two-wheeler will now be manufactured at Bajaj Auto’s manufacturing units instead of their UK partner’s unit. This has also worked in favour of Bajaj Auto shares in boosting the morale of market bulls.”
Why Bajaj Auto share price is surging?
On why Bajaj Auto share price is surging, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Bajaj Auto Ltd is expected to announce Q4FY23 results today. Even though market is not expecting strong quarterly numbers from the auto major, there is buzz about two wheeler and three wheeler theme working in auto sector during FY24. Apart from this, they have taken control over the high end two wheeler ‘Triumph’ and now Triumph two-wheeler will now be manufactured at Bajaj Auto’s manufacturing units instead of their UK partner’s unit. This has also worked in favour of Bajaj Auto shares in boosting the morale of market bulls.”
Avinash Gorakshkar went on to add that Bajaj Auto is a good ‘buy on dips’ portfolio stock for fresh investors who have medium to long term time horizon.
Avinash Gorakshkar went on to add that Bajaj Auto is a good ‘buy on dips’ portfolio stock for fresh investors who have medium to long term time horizon.
Bajaj Auto share price outlook
Advising positional investors to wait for some correction in this scrip, Ravi Singhal, CEO at GCL Broking said, “One should wait for some correction in Bajaj Auto share price as it has surged to the tune of 15 per cent in lats one month. One should try and buy this scrip around its support levels, which lies around ₹4,150 apiece levels for medium term target of ₹4,750 per share.”
Bajaj Auto share price outlook
Advising positional investors to wait for some correction in this scrip, Ravi Singhal, CEO at GCL Broking said, “One should wait for some correction in Bajaj Auto share price as it has surged to the tune of 15 per cent in lats one month. One should try and buy this scrip around its support levels, which lies around ₹4,150 apiece levels for medium term target of ₹4,750 per share.”
Unveiling important levels in regard to Bajaj Auto share price, Anuj Gupta, Vice President — Research at IIFL Securities said, “Bajaj Auto shares have strong support placed at ₹4,100 levels and next support at ₹3,800 apiece levels. The auto major is looking positive on chart pattern and one can maintain buy on dips strategy where buying is recommended around support levels. On upper side, Bajaj Auto share price is facing hurdle at ₹4,600 and ₹4,800 per share levels.”
Unveiling important levels in regard to Bajaj Auto share price, Anuj Gupta, Vice President — Research at IIFL Securities said, “Bajaj Auto shares have strong support placed at ₹4,100 levels and next support at ₹3,800 apiece levels. The auto major is looking positive on chart pattern and one can maintain buy on dips strategy where buying is recommended around support levels. On upper side, Bajaj Auto share price is facing hurdle at ₹4,600 and ₹4,800 per share levels.”
Bajaj Auto Q4 results preview
Two-wheeler and three-wheeler maker Bajaj Auto is likely to report muted performance in the fourth quarter ended as the total volumes declined along with weakness in exports. The company is set to announce its results on 25 April 2023 i.e. today. Analysts expect revenue and profit in Q4FY23 to see an increase from a year ago, but the topline and bottom line to shrink sequentially.
Bajaj Auto Q4 results preview
Two-wheeler and three-wheeler maker Bajaj Auto is likely to report muted performance in the fourth quarter ended as the total volumes declined along with weakness in exports. The company is set to announce its results on 25 April 2023 i.e. today. Analysts expect revenue and profit in Q4FY23 to see an increase from a year ago, but the topline and bottom line to shrink sequentially.
“BAL is expected to report a muted performance in Q4FY23 with total volumes down 12.8% QoQ at 8.6 lakh units. Export volumes are down 21% QoQ while domestic volumes are down 6% QoQ with exports share in volumes at 40% vs. 45% in Q3FY23,” said ICICI Direct Research in its report.
“BAL is expected to report a muted performance in Q4FY23 with total volumes down 12.8% QoQ at 8.6 lakh units. Export volumes are down 21% QoQ while domestic volumes are down 6% QoQ with exports share in volumes at 40% vs. 45% in Q3FY23,” said ICICI Direct Research in its report.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
