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Bajaj Auto, incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 105346.44 Crore) operating in Auto sector.

The consensus recommendation from 9 analysts for the stock is a Buy. Out of the 9 analysts covering the stock, eight have strong buy and buy ratings, while one has a sell rating.

Promoters held 38.19 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 19.0 per cent and 21.46 per cent, respectively.

The Nifty Bank index was trading 0.25 per cent down at 41245.4.

The brokerage advises investors to adopt a staggered approach to invest from a long-term perspective.

The company has begun phased commissioning of a 6 mtpa pellet plant at KPO, which would fully replace the market purchase of pellets in FY2024E and reduce costs, Kotak report said. Further, the 2.2 mtpa CRM mill at KPO should be commissioned in 2HFY24E and aid margins on value addition, it added.

Choosing the right option: You can embrace equity in one of two major ways – directly investing in stocks or via equity mutual funds. Your decision should be based on your risk appetite and understanding of the market. It is advisable to opt for equity funds, if you are a novice, since your funds would be managed by a professional fund manager capable of taking the right decisions.

A total of 148,777 shares changed hands on the counter till 11:59AM (IST)

The stock quoted a 52-week high of Rs 115.63 and a 52-week low of Rs 83.0.

On the weekly options front, the maximum Call OI is placed at 17,800 and then towards 18,000 strikes while the maximum Put OI is placed at 17,500 and then towards 17,600 strikes.