Bajaj Auto biggest Nifty50 gainer after robust Q2 earnings: Brokerages mixed - check targets

Bajaj Auto shares open higher: Bajaj Auto share price opened higher in early trade on Monday (October 17) after the auto major declared its September quarter earnings on Friday (October 14). At 10 a.m., Bajaj Auto was up by 1.52 per cent or over Rs 54 to trade at Rs 3,624.80 after intraday high of Rs 3,674.80. 

Bajaj Auto on Friday said its net profit surged by 20 per cent year-on-year to Rs 1,530 crore for the second quarter of the current financial year. The company's total revenue from operations increased by 16.4 per cent to Rs 10,202.8 crore for July-September 2022 quarter.

At Rs 10,203 crore, quarterly revenue from operations surpasses the Rs 10,000 crore milestones for the first time, according to a regulatory filing to the stock exchanges by Bajaj Auto. 

Growth of 16 per cent year-on-year and 27 per cent quarter-on-quarter was aided by the recovery of volumes on the improvement of semi-conductor supplies, the company said.

Bajaj Auto Share Price Targets By Brokerages Post Q2FY23

Following Bajaj Auto's second quarter business update, brokerages firms have revised their stock price target.

The company posted the highest-ever quarterly EBITDA registered at Rs 1,759 crore, strong growth of 26 per cent year-on-year and 36 per cent quarter-on-quarter.

Also Read | Stocks In News Today, October 17: HDFC Bank, Bajaj Auto, DMart, Shree Cement, Can Fin Homes | Buzzing Stocks