Bajaj Auto share price: Is this a stock to buy ahead of Q1 results today?

Q1 results today: Bajaj Auto share price is trading flat ahead of its Q1 results today. The Indian auto major will declare its highly anticipated Q1 results 2024 on Tuesday. The company board has fixed its meeting on 16th July 2024 to consider and approve the standalone unaudited financial results for the first quarter of the financial year 2024-25.

According to stock market experts, Bajaj Auto's results for Q1FY25 will be healthy. The company is expected to register growth in its EBITDA and margins. The new 2-wheeler CNG model Freedom 125 will likely fuel the company's business in the recently ended quarter.

Bajaj Auto results preview

Speaking on Bajaj Auto's Q1FY25 results, Parth Shah, Research Analyst at StoxBox, said, “We expect Bajaj Auto to post healthy numbers in Q1FY25 as the company continues to enjoy the benefits of a richer product mix in the domestic market while making its recovery in the international market. We anticipate the company will grow its revenue by mid-teen digits due to a better product mix and strong total volume growth of 7.3% YoY.”

"EBITDA margin will also expand on higher realizations, lower input costs, and operating leverage. With the expected increase in the input cost and launch of its new 2W CNG model- Freedom 125, into the market, management's commentary on these points would be vital," the StoxBox expert added.

Bajaj Auto share price target

Speaking on Bajaj Auto share price outlook, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, said, “In the short-term trend, the stock has seen a bullish reversal pattern, which means more upside can be expected in Bajaj Auto share price. In the near term, Bajaj Auto's share price may touch the ₹9,950 apiece mark. The auto stock has made a strong base around the ₹9,500 level. Hence, Bajaj Auto shareholders can hold the scrip, maintaining a stop loss at ₹9,500 for the near-term target of ₹9,950.”

On the suggestion to fresh investors, the Anand Rathi expert said, “One can buy Bajaj Auto shares at the current price and maintain a buy-on-dips strategy until the stock is above the ₹9,500 mark. The short-term target of Bajaj Auto's share price would be ₹9,950 apiece.”

Bajaj Auto Q4FY24 results

In Q4FY24, Bajaj Auto declared a 29.41 percent year-over-year increase in revenue and a 17.99 percent year-over-year growth in profit. However, compared to the previous quarter, revenue declined 5.02 percent, and profit dipped 1.04 percent.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.