Bajaj Auto Shares Surge Post Q3 Results; Analysts Divided on Valuations

• Bajaj Auto shares gained over 3% after reporting strong Q3 results, showcasing healthy margins despite a challenging environment.
• The company anticipates market share gains, especially in the 150cc+ segment, driven by a refreshed Pulsar portfolio and expects industry growth of 12-15% in Q4.
• Brokerages like Nomura (Neutral) and Jefferies (Hold) maintained their ratings, citing concerns over valuations and domestic market share erosion despite strong margins.
• Goldman Sachs (Buy) and CLSA (Outperform) remain positive, expecting market share gains from new product launches and sustained export growth.
• UBS maintained a 'Sell' rating, highlighting challenges from Bajaj Auto's motorcycle-heavy portfolio and structural concerns regarding segment mix.

Why It Matters: Bajaj Auto's Q3 results boosted shares, but analysts are split on future valuations and market share trends.