Bajaj Auto climbs on higher sales

Bajaj Auto gains on back of the sales from the auto major's two forgotten bike brands, CT 100 and Platina

Shares of Bajaj Auto have gained over 1.5% at Rs 2,217 on the Bombay Stock Exchange (BSE) on back of the sales from the auto major’s two forgotten bike brands,  CT 100 and Platina.

Since January, the combined sales of Bajaj Auto in the entry level no-frills segment shot up to 80,000 units a month from an average of 35,000 units per month. Further, the market share of bikes in this segment has also gone up to 40%, an increase of 16% during this period.  These brands were discontinued by the company 11 years ago.

The stock opened at Rs 2,183 and touched a high of Rs 2,227 on the BSE. At 10:40AM, a combined of 71,900 shares changed hands on the counter on NSE and BSE.