Bajaj Auto's foray into the CNG two-wheeler segment, though "bold", may take time to reap benefits, analysts said on Monday. While they did note that the Freedom 125, the world's first CNG-integrated motorcycle by Bajaj Auto, marks a "significant milestone in the two-wheeler industry", they remained watchful of customer adoption.
"The adoption of CNG technology for personal use in passenger vehicles has, so far, been limited. We need to see whether 2W customers are willing to make this shift now that a good product is in the market," noted an analyst at Motilal Oswal Financial Services, with a "neutral" rating on the stock and a target price of â¹8,660.
On the bourses, shares of Bajaj Auto slipped 1,7 per cent intraday before ending 1.12 per cent lower at â¹9,528 per share. By comparison, the benchmark Sensex ended 36 points (0.05 per cent) below.
On Friday (July 5), Bajaj Auto launched the Freedom 125, with three variants, and ex-showroom prices ranging from â¹95,000 to â¹1.1 lakh. While the bike's CNG tank provides a range of over 200 km on 2 kg of CNG, the 2-litre petrol tank offers another 130 km range, giving a total range of 330 km, claims the management.
CNG pump network concerns
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