India's Bajaj Auto gains after HSBC hikes TP to Street-high
** Bajaj Auto BAJA.NS climbs as much as 2.3% to 12,040.25 rupees, last up 1.5%
** HSBC retains "buy" on BAJA, hikes TP from 11,000 rupees to Street-high of 14,000 rupees, a ~19% premium to last close
** Says sustained traction for CNG vehicles, e-two wheelers and Africa exports driving preference for BAJA over rival TVS Motor TVSM.NS
** TVSM trading almost flat
** Earnings resilience and product triggers score better for BAJA vs peers - HSBC
** Sees better growth and margin resilience for BAJA vs TVSM
** Says BAJA's entry into e-rickshaws segment will note a significant upside
** Analysts' avg rating on BAJA, TVSM "hold" - LSEG
** BAJA gains ~76% YTD vs TVSM's 37% rise
Reporting by Manvi Pant in Bengaluru
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