Bajaj Auto shares hit 52-week high, TVS Motor surges 4.5% after strong Q1 results, brokerages positive
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Bajaj Auto and TVS Motor Company shares surged over 4% following strong Q1 results, with Bajaj Auto reaching a 52-week high. Bernstein and CLSA both maintained outperform ratings on Bajaj Auto, citing robust performance and promising outlooks, while TVS Motor also received positive reviews from brokerages. In contrast, Bharat Coking Coal shares fell 8% after reporting a net loss, and Bandhan Bank's shares dropped 10% due to a cut in return on assets guidance.
Bajaj Auto shares rose over 4 per cent to hit a fresh 52-week high on Wednesday, while TVS Motor Company gained 4.5 per cent after the two-wheeler makers reported strong Q1 results.
Bajaj Auto’s stock traded at ₹10,759 on the NSE at 9.57 am, after touching a 52-week high of ₹10,838, against the previous close of ₹10,403.50.
TVS Motor shares hit a high of ₹3,965, up 4.5 per cent from the previous close of ₹3,792.
Bernstein maintained an outperform call on Bajaj Auto with a target price of ₹11,500, saying the company delivered a strong quarter. The brokerage said Bajaj Auto’s performance was driven largely by its own execution and highlighted the company’s earnings call for its disclosure quality.
CLSA maintained an outperform call with a target price of ₹12,068. It said the company’s Q1FY27 EBITDA margin of 20.9 per cent was 9 basis points higher q-o-q and 69 basis points ahead of its estimate, despite a 4.5 per cent q-o-q rise in commodity costs.
Bharat Coking Coal shares fall 8% after Q1FY27 net loss
While Jefferies retained a hold call with a target price of ₹11,500, saying Q1 EBITDA and PAT rose 42-45 per cent y-o-y and were 5-7 per cent above its estimates, led by better-than-expected margins.
Domestic brokerage Motilal Oswal upgraded Bajaj Auto to buy with a target price of ₹12,096, citing a promising outlook across segments and an earnings beat led by strong margins. The brokerage said management aims to increase monthly export volumes to around 250,000 units from Q2FY27 onward.
Jefferies maintained a buy call and raised its target price to ₹4,900. It raised its FY27-29 EPS estimates by 4-5 per cent and said Q1 EBITDA and recurring PAT grew 40-41 per cent y-o-y, 4-7 per cent above its estimates.
CLSA maintained an outperform call on TVS Motor and raised its target price to ₹4,384.
Bandhan Bank shares tank 10% to lower circuit as FY27 RoA guidance cut spooks investors
Macquarie retained an outperform recommendation with a target price of ₹4,325, describing the results as a strong start to the year while saying sustainability remains key. It said Q1 PAT beat estimates, aided by lower credit costs, while margins remained resilient and asset quality strengthened.
Original Article
Published on Hindu BusinessLine