Sell Bajaj Auto With Target Of Rs 2425
Stock market analyst Rupal Saraogi has maintained 'sell' rating on Bajaj Auto Ltd stock with target of Rs 2425.
According to analyst, the investors can sell the stock with stop loss of Rs 2475.
Today, the stock opened at Rs 336.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 128.74 and 19.04 respectively.
The share price has seen a 52-week high of Rs 2506.90 and a low of Rs 980 on BSE.
Bajaj Auto has registered its highest ever monthly sales of two-wheelers in June, selling 282,808 units in the domestic and export markets.
It registered an increase of 68% in June 2009, when the company attained sales of 167,945 units.
Sales of three-wheelers, comprising exports, surged 32% to 32,614 units for June 2010 as compared to 24,731 units in the same period of 2009.
The company is also confronting production difficulties like other automotive makers in the industry.
A statement from the company said, "Production constraints limited sales".
Bajaj Auto lost 20,000 production units in June owing to the constraint.