Bajaj Auto share price movement
Currently, Bajaj Auto trades above its share buyback price of ₹12,000 per share. In July 2026, the company repurchased 4.69 million shares through the tender route. The stock appreciated 31 per cent from its three-month low of ₹9,505, hit on June 30, 2026. It trades close to its all-time high level of ₹12,772.15 touched on September 27, 2024.
Bajaj Auto – August sales numbers
Bajaj Auto reported a 28 per cent increase in total vehicle sales to 535,764 units in August 2026, compared with 417,616 units sold in August 2025. Domestic sales rose 10 per cent YoY to 255,708 units, while exports grew 51 per cent YoY to 280,056 units. Two-wheeler sales increased 30 per cent YoY to 443,748 units, while commercial vehicle sales rose 22 per cent YoY to 92,016 units in August 2026, the company said in a statement.
Bajaj Auto is engaged in the business of development, manufacturing, and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers, etc., and parts thereof. The company sells its products in India as well as in various other global markets.
Through the September 2026 quarter (Q2FY27) and the rest of FY27, Bajaj Auto’s focus will remain on 7 key areas: Domestic motorcycles, achieving a superior competitive position and growth in the 125cc-plus segment by leveraging the imminent total portfolio makeover.
Bajaj Auto’s management in the Q1 earnings conference call said they expect exports to pass the 250,000 per month level on the back of leadership in the sports segment of LatAm and a more aggressive share gain in commercial bikes in Africa, based on the growing success of the Boxer 125 Heavy Duty. “Super premium sports segment, accelerate growth in both Triumph and KTM business network expansion and investment in niche segment development like adventure and sport. In electric business, capture share of the rapid industry growth in two-wheelers and three-wheelers,” the company said.
Brokerages view on Bajaj Auto
India Ratings and Research (Ind-Ra) affirmed the ratings of Bajaj Auto’s bank loan facilities with a Stable outlook. The ratings reflect Bajaj Auto’s strong market position in the two-wheeler (2W) and three-wheeler (3W) industries in India, diversified product portfolio and its strong presence in overseas markets, aided further by the acquisition of Bajaj Mobility AG (BMAG; parent company of KTM AG).
Ind-Ra expects Bajaj Auto’s scale to increase in FY27 supported by BMAG’s current revenue rate of EUR1.3 billion as of 2026. However, the earnings before interest, taxes, depreciation, and amortization (EBITDA) margins may see some moderation in the near term; given BMAG’s EBITDA margins are lower than that of Bajaj Auto’s consolidated margins excluding BMAG.
The management expects BMAG’s EBITDA margins to improve gradually over the medium term, driven by a likely further increase in capacity utilisation supporting operating leverage and ongoing cost rationalisation measures. In FY27, management expects to continue to supporting BMAG’s turnaround including portfolio prioritisation, product development, supply chain optimisation and organisational simplification.
“The management expects an increase in profitability of the EV portfolio in the near-to-medium term driven by economies of scale and technological advancements. The company operates at a better margin than the industry due to its focus on increasing exposure in the premium product segments as well as exports and 3Ws,” Ind-Ra said in its rating rationale.
Among original equipment manufacturers (OEMs), Bajaj Auto sees the least margin volatility due to input cost inflation, as it is mostly offset by forex gain. Looking ahead, the success of launches and domestic market share are the key monitorables, said analysts at Anand Rathi Share and Stock Brokers. They maintain a ‘BUY’ rating on the stock with an upwardly revised SOTP-based target price of ₹12,800 per share.
The brokerage firm said their positive stance on the company is backed by: (a) solid demand in domestic and exports 2W segment supported by GST relief and market expansion; (b) aggressive EV strategy; (c) margin expansion from rising economies of scale and forex, despite adverse input pressure; (d) favourable model-mix; and (e) improved profitability of EV platforms.
With premiumisation strategy in the 125cc+ motorcycle category, Bajaj Auto is entering a strong product cycle with multiple launches across its highest-margin segments while simultaneously benefiting from structural demand tailwinds. Bajaj Auto remains highly optimistic, supported by a significant product pipeline & capacity expansion from 7 million to 9 million units per annum, said analysts at ICICI Direct.
A robust export outlook, strong positioning in domestic EV segment and a differentiated product launch pipeline are expected to drive sustained growth for Bajaj Auto. With export-supported margin resilience, the brokerage firm remains positive about medium to long-term earnings prospects at Bajaj Auto & maintains a BUY rating on the stock, valuing it at ₹12,550, i.e., 25x P/E on FY28E EPS. Disclaimer: Views and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers’ discretion is advised.
