Bajaj Finserve, the other company born out of the demerger, recorded a fall of 26.47 per cent to close at Rs 524.65 on BSE compared with the opening of Rs 700.
Analyst's attribute the correction in closing prices as against the listing prices to the expected slowdown in demand for two-wheelers and to the dismal outlook for Bajaj Auto products. "We will witness flat to negative growth pattern this year," Bajaj had said last Thursday.
Both the companies closed to levels that were predicted by leading brokerage houses. "We are expecting the price of Bajaj Auto to settle at close to Rs 630-650 mainly due to the sluggish demand in the two-wheeler market," said an analyst from a leading brokerage house.
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