Shares of Bajaj Auto surged 3 percent on Tuesday, hitting a fresh 52-week high, after Emkay Global upgraded the stock to a ‘Buy’ rating and raised its target price by 17 percent.
The brokerage highlighted that Bajaj Auto offers the best risk-reward at current levels, supported by strong export trends and momentum from new product launches. Analysts noted that both domestic and international demand for motorcycles and three-wheelers are expected to drive earnings growth, reinforcing investor confidence.
Market participants responded positively to the upgrade, pushing the stock to record highs, while broader auto indices also saw a boost amid sectoral optimism.
