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Rephrase the title:Bajaj Auto topples M&M as third most valuable auto company in India

Posted on January 25, 2024 By Haley Bennett

Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:

Mumbai, Bajaj Auto has toppled Mahindra & Mahindra (M&M) as the third most valued auto company in the country.

Bajaj Auto’s market cap on Thursday crossed the Rs 2 lakh crore-mark to touch Rs 2.04 lakh crore, surpassing M&M.

Maruti Suzuki has a market cap of Rs 3.13 lakh crore, while Tata Motors mcap is Rs 2.59 lakh crore.

Bajaj Auto stock gained 5.3 per cent to close at Rs 7,596 on Thursday.

Arun Agarwal, Vice-President & Automobile Analyst, Kotak Securities, said Bajaj Auto’s volumes grew 14 per cent QoQ led by 30 per cent QoQ volume growth in the domestic two-wheeler segment.

Its EBITDA margin expanded YoY, supported by commodity tailwinds. In Q3FY24, gross profit per vehicle and EBITDA per vehicle improved over Q2FY24. Recovery in the domestic two-wheeler segment is expected to continue.

“We are impressed by Bajaj Auto’s margin resilience despite adverse mix (3W volume contribution down 300bps QoQ). This validates the fact that its margin performance is not overtly dependent on 3W performance. Domestic 2W retail market share gain has been impressive at 150bps YoY to 12 per cent YTDFY24. Domestic 2W industry volumes have held up post festive season as well. We expect these to grow in high single-digit in FY25E,” Elara Securities said.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Business Tags:arun agarwal, bajaj auto, kotak securities, suzuki, tata motors

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