pick of the week: bajaj auto limited company bajaj-auto ... · pick of the week: bajaj auto...
TRANSCRIPT
• The Bajaj Group is amongst the top 10 business houses in India. Its footprint stretches over a wide range of industries, spanning automobiles (two-wheelers manufacturer and three wheelers manufacturer), home appliances, lighting, iron and steel, insurance, travel, and finance. The group's flagship company, Bajaj Auto, is ranked as the world's fourth largest three and two-wheeler manufacturer and the Bajaj brand is well-known across several countries in Latin America, Africa, Middle East, South, and South East Asia.
• In India, It is based in Pune, Maharashtra, with plants in Chakan (Pune), Waluj (near Aurangabad) and Pantnagar in Uttarakhand. The oldest plant at Akurdi (Pune) now houses the R&D center 'Ahead'.
• Bajaj Auto is India's largest exporter of motorcycles and three-wheelers. Bajaj Auto's exports accounted for approx. 35% of its total sales. 47% of its exports are made to Africa.
• This statistic represents the number of Bajaj Auto employees from the fiscal year of 2006 to the fiscal year of 2018. In the fiscal year of 2018, the India-based motorcycle manufacturer employed around 9,500 people.
Technical Outlook • On a daily Chart, the stock has given a breakout of its Neckline of “Inverted Head & Shoulder”
formation which is a Bullish Reversal formation and indicates a northward journey in the counter.
• Moreover, the stock has been trading with a Positive Crossover of 21*50 Days Moving Average which can be considered as a Bullish Crossover and shows a Bullish movement in the counter.
• On a weekly chart, the stock has given breakout of its upper band of “Falling Channel” formation which as well indicates an upside movement in the counter.
• Furthermore, the stock has managed to sustain above its 100 Weeks Moving Average which is placed at 2845 level which shows that the medium term trend has changed to up from down.
• A daily momentum indicator RSI reading is at 68.80 level with a positive crossover, apart from this, the MACD indicator has given a positive crossover above the base line which point out for a strength in the stock.
• Based on the above technical structure, we are expecting an upside movement in the counter in the coming few trading sessions.
Company BAJAJ-AUTO
Recommendation Buy
Sector : AUTO
Buying Range : 2955 & Upto 2925
Price Potential : 3400.00
Stop Loss (Closing Basis): 2750.00
Mkt Cap (Rs. Cr.): 84,204
TTM EPS (Rs.) 153.77
TTM SALES (Rs. Cr.) 28,993
BVPS (Rs.) 692.63
Reserves (Rs. Cr.) 19,753
P/BV 4.20
PE 18.92
Bloomberg Code : BJAUT:IN
Reuters Code : BAJA.NS
TW = Twelve Months TTM= Trailing 12 months
SEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Pick of the Week: Bajaj Auto Limited. 08th Mar, 2019
www.choicebroking.in *Please Refer Disclaimer on Website
Pick of the Week: Bajaj Auto Limited. 08th Mar, 2019
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds SEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies Aprilket psychology, price patterns and volume levels. It is used to forecast future price and Aprilket movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in sumAprily form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
Disclaimer
Contact Us
Kkunal Parar ( Sr. Research Associate)
PERFORMANCE TRACKER
www.choicebroking.in [email protected]
Surendra Bhasker (Research Associate)
Harsha Sharma(Research Associate)
Palak Kothari(Research Associate)
DateType
of CallEquity Initiated SL TGT Result
%
Return
Profit /
LossTotal Profit
01.12.18 Buy KOTAKBANK 1233.95 1157.00 1407.00 Book Part Profit on 07.12.18 5.09 62.75 2542.65
24.12.18 Buy ICICIPURLI 330.00 308.00 365.00 Book Part Profit on 10.01.19 3.94 13.00 1969.70
01.01.19 Buy BAJFINANCE 2634.10 2435.00 3078.00 Stopped Out -4.94 -130.10 -2469.53
05.01.19 Buy IDFCFIRSTB 45.15 42.00 52.00 Book Part Profit on 10.01.19 4.10 1.85 2048.73
14.01.19 Buy BIOCON 645.45 607.00 720.00 Exit on 12.02.2019 -5.72 -36.95 -2862.34
19.01.19 Buy HCLTECH 966.50 910.00 1080.00 Book Profit on 07.02.19 10.17 98.30 5085.36
04.02.19 Buy DRREDDY 2791.25 2581.00 3215.00 Exit on 11.02.2019 -8.21 -229.25 -4106.58
23.02.19 Buy JSWATEEL 286.85 268.00 324.55
02.03.19 Buy LT 1315.00 1487.00 1229.00
2208Total