After a tumble in Bajaj Auto’s share price following predictions of muted festive demand, Rajiv Bajaj made a fairly specific stock prediction on TV.
“I stand by my projection of Rs 20,000 [~$237] as the long-term target price in my head. Not that I am an expert of this subject, as I have always said. But more importantly, I am certainly, if I can, going out and buying some stock because something that corrected 20%, perhaps based on a somewhat temporary understanding of an evolving situation, presents a nice upside in the weeks to come.”
This was said about the Bajaj Auto stock in a conversation on CNBC-TV18 on 21 October. Interestingly, it did not come from an analyst or a market commentator. But …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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