reports
- Jinesh Gandhi
MOSL: BAJAJ AUTO (Buy)-Back on recovery path- Volume growth coupled wi...
​BAJAJ AUTO: Back on recovery path; Volume growth coupled with improving mix to drive margin expansion(BJAUT IN, Mkt Cap USD14.5b, CMP INR3262, TP INR4197, 29% Upside, Buy)Regulatory changes driving medium-term visibility in three-wheelersRegulatory changes in key states where BJAUT enjoys over 90% share are opening up an incremental opportunity of ~142k passenger 3Ws (v/s sales of 240k in FY17).Average monthly volumes in FY18YTD have improved to ~24.7k (v/s ~21.1k/month in FY17). Strong domes...
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