Jul 03, 2013, 06.26 PM IST
Bajaj Auto reported on Tuesday its lowest domestic monthly sales in June since December, 2009. The numbers were largely impacted by sluggish two-wheelers demand and the ongoing strike at Chakan plant
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Why AnandRathi downgraded Bajaj Auto to 'Sell' from 'Buy'
Bajaj Auto reported on Tuesday its lowest domestic monthly sales in June since December, 2009. The numbers were largely impacted by sluggish two-wheelers demand and the ongoing strike at Chakan plant
Like this story, share it with millions of investors on M3
Why AnandRathi downgraded Bajaj Auto to 'Sell' from 'Buy'
Bajaj Auto reported on Tuesday its lowest domestic monthly sales in June since December, 2009. The numbers were largely impacted by sluggish two-wheelers demand and the ongoing strike at Chakan plant
Brokerage AnandRathi has downgraded Bajaj Auto to "SELL" from "BUY" citing de-rating of price earnings multiple of stock in the short term on weak two-wheeler's demand and lower EBITDA margins.
Bajaj Auto reported on Tuesday its lowest domestic monthly sales in June since December, 2009. The numbers were largely impacted by sluggish two-wheelers demand and the ongoing strike at Chakan plant where workers are demanding wage revision along with 500 equity shares of Bajaj Auto at rupee one apiece.
AnandRathi lowered its target price to Rs 1721 from Rs 2131 earlier. Shares of Bajaj Auto closed at Rs 1895, down Rs 22 or 1.17 percent on Wednesday.
| # Key Takeaways From The AnandRathi Report |
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