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Bajaj Auto shares up 6% after Q4 results, analysts mixed

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MUMBAI : Shares of Bajaj Auto surged as much as 6.44% in Thursday's trading session as company's margins exceeded market expectations despite the coronavirus-led slump in the sector.

After touching an intraday high of ₹2722.80, at 01:15 pm, the scrip was trading at ₹2656.70 up 3.86% while the benchmark index, Sensex rose 301.42 points, or 0.98% to 31,120.03.

At operating level, company's earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 2.1% to ₹1,252.8 crore and margin expanded 190 basis points year-on-year to 18.4% due to healthy exports in quarter ended 31 March 2020.

Income from other sources in March quarter surged 44.8% to ₹533 crore year-on-year, while tax cost declined 27.9% to ₹411 crore in the period

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