Bajaj Auto vrooms as Q3 profit rises 23%; brokerages raise target price

Bajaj Auto’s revenue from operations during Oct-Dec came in at Rs 9,315 crore, increasing 3 percent from Rs 9,022 crore, yearly.

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Bajaj Auto shares rallied over 6 percent on January 27 after the company reported better-than-expected numbers in the quarter ended December 2022. The two-wheeler major reported a standalone net profit of Rs 1,491 crore for the quarter ended December 2022, clocking a 23 percent rise over Rs 1,214 crore a year ago.

At 9:30 am, the stock was quoting at Rs 3,944 per share on the National Stock Exchange, higher by 6.10 percent. Trading volumes at 7,02,660 shares were almost three times the 20-day average volumes of 2,69,188 shares.

Revenue from operations came in at Rs 9,315 crore, increasing 3 percent from Rs 9,022 crore in the corresponding quarter last year, the company said in an exchange filing on January 25.

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