Investors Rejoice! Bajaj Auto Shares Hit All-time High Of Rs 5,076.85 On BSE

New Delhi: In what would come as a cheerful news among investors, Bajaj Auto shares hit record high of 5,076.85 on BSE on Friday. The scrip rose 4.84 percent to hit a record high of Rs 5,076.85 apiece on the BSE, amidst reports of global brokerage BofA Securities upgrading the stock to Buy from Neutral. BofA Securities has also revised the target price to Rs 5,550 from Rs 5,100 earlier.

Bajaj Auto reported a net profit of Rs 1,664.77 crore in its Q1 FY2024. The auto maker registered 42% Year-on-Year (YoY) growth compared to the Rs 1,173.30 crore in the corresponding period last year. 

The company's overall revenue grew nearly 29% YoY growth to Rs 10,309.77 crore during April-June 2023 as against Rs 8,004.97 crore in Q1 FY23.