Buy Bajaj Auto With A Target Of Rs 1269

Buy Bajaj Auto With A Target Of Rs 1269Technical analyst Salil Sharma of Kapoor Sharma & Company maintained 'buy' rating on Bajaj Auto Limited stock with a target of Rs 1269.

According to analyst, the stock canbe bought with a stop loss of Rs 1236.

The stock of the company, on February 01, closed at Rs 1246.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1664.20 and a low of Rs 834.42 on BSE.

Current EPS & P/E ratio stood at 86.91 and 14.20 respectively.

Bajaj Auto has registered an increase of 18% in sales during the last month, pushed by positive increase in demand for the company's well-liked Pulsar and Discover bikes.

Bajaj Auto sold 3,13,583 units during January 2011, with Pulsar and Discover making up 68% of the overall volume as against the sales of 2,66,018 units during January last year.

Under the motorcycles section, Bajaj Auto sold 2,75,622 units suring the first month of 2011, an increase of 18%, as compared to 2,32,939 units during the same period of 2010.

In addition, the company's commercial vehicle sales surged 15% to 37,961 units in January as against 32,969 units in January 2010.

The company saw a 44% increase in exports during January 2011 as it sold 1,03,526 units in abroad markets in January 2011.

During the April-January phase, Bajaj Auto posted a 38% growth in total sales to 3,189,339 units as compared to 2,309,625 units suring the same period of 2010.