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Bajaj Auto hits a 52-week high for the second straight session
The rally follows a Q1FY27 earnings jump, with standalone net profit up 42.3% year on year to ₹2,982.84 crore.
Bajaj Auto shares rose to a 52-week high for the second consecutive session on 23 July, building on a strong recent uptrend tied to the company’s quarterly results. The stock opened at ₹11,005 versus a prior close of ₹10,999.30 and climbed about 3% to an intraday high of ₹11,333.
According to LiveMint Markets, momentum has gathered after Bajaj Auto reported a 42.3% year-on-year increase in standalone net profit to ₹2,982.84 crore for Q1FY27 during market hours on 21 July. Revenue from operations grew 37% year on year to ₹17,243.72 crore, supported by record quarterly volumes and improved realizations, while total sales increased 29% to 1,438,251 units.
LiveMint Markets also noted that domestic sales rose 11% and exports jumped 54%. While the stock slipped about 1% on 21 July after the results announcement, it rebounded on the next session after broker and market participants turned more constructive on the name.
Brokerage views highlighted in the report included Motilal Oswal Financial Services upgrading the stock to a buy from neutral, with a target price of ₹12,096, and Emkay Global Financial Services lifting its target to ₹13,700 from ₹13,000 while keeping a buy rating. ICICI Securities also maintained a buy call and raised its target to ₹12,650 from ₹12,000, while the piece pointed to technical indicators suggesting further upside, with a potential for short-term profit booking after the sharp move.