Two-wheeler stocks slip on weak May sales numbers

Shares of Hero Motocorp and Bajaj Auto are trading lower on the BSE on weak sales numbers for the month of May

Shares of two-wheeler stocks namely Hero Motocorp and Bajaj Auto are trading lower on the Bombay Stock Exchange (BSE) on the back of weak sales numbers in the month of May.

Hero Motocorp , largest two wheeler manufacturer in the world, is trading lower by 3% to Rs 2,630 on the BSE after the company sold 569,876 vehicles in May as against a total of 602,481 vehicles in the corresponding period last year, depicting a fall of 5.4%. The stock opened at Rs 2,700 and touched a low of Rs 2,620 on the BSE.

Bajaj Auto, Indian automaker, has dipped by 1% to Rs 2,317 on the BSE after the company sold 3,45,438 units in the month of May as compared to 3,51,436 units in the same period last year, showing a drop of 2%.

Sales in the motorcycle segment dipped 4% while the commercial vehicles witnessed a jump of 13%. The stock opened at Rs 2,345 and hit a low of Rs 2,321 on the BSE.