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The Pune-headquartered company, which posted an impressive 35 percent jump in net profit in the March quarter, is betting its CNG-driven bike, the world's first, will attract fuel-conscious customers
LKP Research is bullish on Bajaj Auto has recommended buy rating on the stock with a target price of Rs 10,138 in its research report dated April 19, 2024.
According to the Vahan portal, the company sold 40,672 units of Chetak in Q4 FY 2024, which is nearly seven times what it sold during the same period last year at 6,058 units in January-March 2023.
Triumph's volumes stepped up further in Q4 FY24 with nearly 18,800 units delivered in the quarter, with approximately 70 percent of this going to seed products in overseas markets, Bajaj Auto said.
India's economy saw its fastest growth in a year and a half at the end of 2023, fueled by strong activity in manufacturing and construction.