Bajaj Auto gains 3% on increase in sales

The stock extended gains and touched a high of Rs 1,225 - up 4.2%. It finally ended at Rs 1,210 - up 3%. The counter clocked a volume of 34,541 shares on the BSE today.
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(Updated at 1003 hrs)

Bajaj Auto has advanced 2.5% to Rs 1,204, after opening at Rs 1,190, on the back of 4% rise in two-wheeler sales.

The stock touched a high of Rs 1,208. Around 1,900 shares have changed hands at the BSE counter so far as against its two-week average trades of 58,833 shares.

The second-largest motorcycle manufacturer in the country, Bajaj Auto, sold 183,051 units of motorcycles in the month of August this year, clocking a 4% growth compared with the sales achieved in the same month last year. This is the first time in the current financial year of 2009-10 that the company’s two-wheeler sales have been positive.

Exports for Bajaj Auto, which is the largest two-wheeler exporter in the country, increased by 6 per cent to around 62,000 units in August. Bajaj said, despite the overall export market slowing down, overseas sales for the company have not slackened.