In the light of demonetisation and its resultant impact on consumer demand, Bajaj Corp has reported decent numbers in 3QFY17. Its net sales fell by 4.8% yoy to Rs1.9bn, while net profit grew by 17.2% yoy to Rs578mn aided by favourable base that included amortisation charge of Nomarks. We expect recovery in demand in FY18E owing to improved consumer sentiments and higher currency circulation. Expecting 9.1% & 21% CAGR in revenue and earnings through FY16-18E, we reiterate our BUY...