Bajaj Auto Share Price: 22 April 2024
📉 The share price of Bajaj Auto witnessed selling pressure on Friday (19th April), with a 3.5% decline during midday trading. The company reported its fourth quarter (Q4FY24) results on Thursday, showing a 35% increase in profits and a 34% improvement in EBITDA for the quarter. Following the results, brokerage houses have announced their investment strategies for Bajaj Auto, leading to an increase in target price. The company has also declared a dividend of 800% per share for investors.
📈 Analysts at Jefferies have recommended buying Bajaj Auto, raising the target price from ₹9,000 to ₹10,500. They believe that the company’s Q4 profit and net profit growth were in line with estimates, with a projected 4% increase in annual revenue per share for the financial year 2025-2026. On Monday (22nd April 2024), the share was trading at ₹8,790 with a 0.16% decline.
💼 JP Morgan has advised overweighting Bajaj Auto, increasing the target price from ₹8,900 to ₹10,000. Goldman Sachs has given a “neutral” rating for the stock, raising the target price from ₹9,380 to ₹9,600. Sharekhan has recommended buying the share with a target price of ₹10.36.
💰 Bajaj Auto’s Q4 profit on an annual basis increased by 35% to ₹1,936 crore, with EBITDA rising by 34% to ₹2,307 crore. The EBITDA margin stood at 20.1%. The company’s annual revenue grew by 29% to ₹11,485 crore, with pre-tax profit increasing by 35% to ₹2,542 crore.
💸 The Board of Directors of Bajaj Auto has announced a dividend of ₹80 per share or 800% at a marked price of ₹10 for investors. If approved at the AGM, the dividend will be paid by 19th July, with a record date of 14th June.
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