Bajaj Auto share Price: Decline 3% post Q4 results; brokerages divided

Bajaj Auto shares declined nearly 3 per cent in early trade on Friday after the company reported 10.41 per cent decline in consolidated net profit to ₹1,801.85 crore for the quarter ended March 2025.

Brokerages’ stance were dividend, despite the auto major delivering in-line revenue and EBITDA performance, aided by recovery in exports and growth in electric vehicles (EVs).

Should you buy, sell or hold?

Global brokerages Bernstein and CLSA maintained ‘outperform’ ratings with target prices of ₹11,000 and ₹10,149, respectively. Goldman Sachs maintained a ‘buy’ rating, raising its target price to ₹9,600 from ₹9,300. On the other hand, Jefferies assigned a ‘hold’ call with a target price of ₹8,000 per share.

Nuvama Institutional Equities maintained a ‘buy’ rating at an unchanged target price of ₹10,700, adding that a healthy product pipeline — including affordable electric two-wheelers (e2Ws), entry-level 125cc motorcycles, e-rickshaws, and new e-2Ws — is likely to aid volumes going forward.

Axis Securities retained its ‘buy’ call, revising the target price from ₹9,380 to ₹9,890 per share.

Yes Securities analysts maintained a ‘neutral’ rating with an increased target price of ₹9,789, up from ₹9,163 earlier. The brokerage expects margins to remain range-bound, given the positive impact of a favourable mix, exports, and operating leverage — offset by increased marketing spends and a higher share of EVs. Yes Securities also expects Bajaj Auto’s entry into the e-rickshaw segment to dilute margins in the near term, given the fragmented and price-sensitive customer base.

Motilal Oswal also retained its ‘neutral’ rating, with a target price of ₹8,688. The brokerage cited a recovery in exports and a healthy ramp-up of Chetak and three-wheelers (3Ws) as key positives, while highlighting market share loss in domestic motorcycles and the 125cc+ segment as a key concern.

HDFC Securities maintained its ‘reduce’ call with a target price of ₹8,184, expressing a cautious tone on increasing competition in the EV segment, growth challenges in the CNG bike segment, and a gradual export recovery.

The stock traded 2.50 per cent lower at ₹8,651.50 on the BSE as of 2:24 pm, having hit an intraday low of ₹8,617.

Published on May 30, 2025