8/7/2024, 10:24:03 am

Bajaj Auto stock falls after UBS says 'sell', sees 35% downside

Bajaj Auto's shares fell 1% to Rs 9,534 after UBS gave a "sell" call, assigning a target price of Rs 6,250, implying a 35% downside potential. The brokerage believes electric vehicles are the future, and CNG motorcycles won't slow down electrification. Bajaj Auto reported a 5% year-on-year growth in total vehicle wholesales in June, with domestic sales rising 8% to 2,16,451 units.