Bajaj Auto surges to new lifetime high

The stock ended with a gain of 1% at Rs 944. Over 130,000 shares were traded at the counter today.
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(Updated at 1153 hrs)

Bajaj Auto has hit a new 52-week high of Rs 989 after announcing its Q4 results yesterday.

The stock opened flat at Rs 933 and slipped into the red to a low of Rs 905. However, the stock soon surged to a new 52-week high of Rs 989, up over 9% from the day's low. The stock is now up 5% at Rs 980. In the process, the stock has gained 55% in the past month. The counter has clocked a volume of 73,113 shares.

The company had informed the BSE yesterday that the Q4 net profit has increased 8% to Rs 130 crore from Rs 120 crore in the corresponding quarter a year ago. This was inspite of a 20% dip in sales in the quarter under review.

Also read: Bajaj Auto: Executive search