{"id":7679,"date":"2015-06-18T16:32:50","date_gmt":"2015-06-18T11:02:50","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7679"},"modified":"2015-07-02T17:24:03","modified_gmt":"2015-07-02T11:54:03","slug":"bajaj-auto-ltd","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/bajaj-auto-ltd\/7679","title":{"rendered":"Bajaj Auto Ltd."},"content":{"rendered":"<p style=\"text-align: justify;\">Bajaj Auto Ltd (BAL) is the world\u2019s largest three-wheeler (3W) manufacturer having domestic market share of 55% (FY15). Set up in 1930, the company is the largest 3W, the largest premium motorcycle, and the second largest two-wheeler (2W) maker in the Indian passenger vehicle market. BAL is the largest exporter of 2W and 3W in the country with exports forming 44% of its total sales. The company has two subsidiaries, namely Bajaj Auto International Holdings BV and PT Bajaj Indonesia. The company operates in two segments namely, Automotive and Investments.<\/p>\n<p><strong>Valuation and view<\/strong><\/p>\n<p>BAL bestowed by its varied geographical presence, product mix, and greater product pipeline visibility is all set to compete with tough market environment. Further, low commodity price and higher export realization can be strong margin drivers ahead. Thus, we believe that with new launches across the motorcycle segment viz commuter, executive and premium, BAL is expected to perform well in the coming quarters.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Account Now! <\/span><\/a><\/div>\n<p>We initiate BUY rating on BAL. At a current CMP of Rs\u00a02,286, BAL is currently trading at an EV\/EBITDA of 13.3x for FY16E and 10.8x for FY17E. Considering the company\u2019s strong fundamentals, we recommend \u2018BUY\u2019 with a target price of Rs\u00a02,600, which implies potential upside of ~14% to the CMP from 1 year perspective.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/06\/Research-Report-Bajaj-Auto-Ltd.pdf\">Research Report Bajaj Auto Ltd<\/a><\/p>\n<p style=\"text-align: justify;\"><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bajaj Auto Ltd (BAL) is the world\u2019s largest three-wheeler (3W) manufacturer having domestic market share of 55% (FY15). Set up in 1930, the company is the largest 3W, the largest premium motorcycle, and the second largest two-wheeler (2W) maker in the Indian passenger vehicle market. BAL is the largest exporter of 2W and 3W in [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bajaj Auto Ltd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Bajaj Auto Ltd. 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