Bajaj Auto: CLSA Projects 20% Upside on EV and Export Momentum

🏍️ CLSA retains its 'Outperform' rating on

with a ₹10,149 target, citing robust growth in the 125cc+ segment, the new Chetak EV launch, 15–20% export growth forecast for FY26, and a potential KTM recovery. The company also plans to enter the lithium-ion e-rickshaw market. Q4 results showed 3% volume growth and over 20% EBITDA margin.