Bajaj Auto surges over 8% on strong earnings
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New Delhi, Jan. 22 -- Shares of Bajaj Auto Ltd surged over 8% on Friday as many brokerages increased its target price after the company reported its highest-ever quarterly profit and revenue.
The stock jumped as much as 8.77% to hit an all-time high of Rs.4031.70 on BSE. The scrip gained for four consecutive sessions and advanced nearly 13% in that period.
The two-wheeler maker's better-than-expected earnings were led by a jump in export and boost in domestic sales, aided by the festive push and rising demand for personal mobility following the covid pandemic.
The company said its overall 2W exports demand is back to 90% of pre-covid levels with demand from Africa recovered beyond pre-Covid levels and LatAm at 80-90%. In South Asia, de...
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