The company’s commercial vehicles (CV) segment reported highest ever monthly sales of 66,677 units up 66% over the previous year.
“CV segment is expected to continue momentum of volume growth. Major growth is expected to come from Maharashtra, Telangana, Karnataka, Andhra Pradesh and Delhi. Most of the heavy demand witnessed in Q4FY18 from Maharashtra were from Mumbai, whereas the growth from other parts are expected to come in FY19,” analysts at Dolat Capital Market said in recent report.
Bajaj Auto has good brand presence in the category just above 100-125 cc. With the expected transition from lower engine capacity to higher engine capacity, Bajaj Auto has significant opportunity to capture the market share, as its best performing brand is already playing a role of commuter bike along with the sporting features that it provides. Hence, it provides a nice upgradation option for consumer moving out of entry level motorcycles, the brokerage firm said with upgrade the rating to ‘accumulate’ with a 12 month target price of Rs 3,265.
At 10:17 am; the stock was trading 1.4% higher at Rs 3,010, as compared to 0.23% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 549,389 equity shares changed hands on the BSE and NSE so far.