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Buy Bajaj Auto, goal worth Rs 3130: Kotak Securities

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Kotak Securities has given a purchase score to Bajaj Auto with a goal worth of Rs 3130. The share worth moved down by 0.27 per cent from its earlier shut of Rs 3034.80. The inventory’s final traded worth is Rs 3026.75.

Bajaj Auto Ltd., integrated within the 12 months 2007, is a Large Cap firm (having a market cap of Rs 87801.19 Crore) working in Auto sector.

For the quarter ended 30-09-2020, the corporate reported a Consolidated gross sales of Rs 7041.48 Crore, up 138.81 % from final quarter Sales of Rs 2948.52 Crore and down -6.10 % from final 12 months identical quarter Sales of Rs 7499.21 Crore. Company reported web revenue after tax of Rs 1137.69 Crore in newest quarter.

Investment Rationale
A sequence of upper excessive greater low formation on the each day chart means that outperformance is prone to proceed within the close to time period.

Promoter/FII Holdings
Promoters held 53.7 per cent stake within the firm as of Sept 30, 2020, whereas FIIs held 13.6 per cent, DIIs 10.four per cent and public and others 22.three per cent

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