October 24, 2018 / 10:16 AM / in 4 months

BUZZ-India's Bajaj Auto hits over 2-yr low; Q2 margins slightly hit

** Bajaj Auto Ltd’s shares fall as much as 5 pct to 2,456.6 rupees, their lowest since May 25, 2016

** Automaker’s Sept qtr profit rose 3.65 pct to 11.52 bln rupees ($157.33 mln) from 11.12 bln rupees a year earlier

** Margins during the qtr were slightly lower than expectations, owing to higher contribution from entry level models, said an analyst with a domestic brokerage covering the stock who asked not to be named due to his firm’s policies.

** More than 1.5 mln shares traded, 2.9 times their 30-day moving avg of 526,413 shares

** 21 of the 51 analysts covering the stock have a “buy” or higher rating, 18 have “hold” while 12 rate it at “sell” or lower; median PT is 2,905 rupees - Refinitiv data

** Stock down 22.41 pct this year as of last close ($1 = 73.2225 Indian rupees)

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