Bajaj Auto accelerates after announcing Q2 results

Bajaj Auto gained 1.72% to Rs 3,277.15 at 13:50 IST on BSE after the company announced Q2 results.

The result was announced during market hours today, 17 October 2017.

Meanwhile, the S&P BSE Sensex was down 50.02 points, or 0.15% to 32,583.62.

On the BSE, 37,786 shares were traded in the counter so far, compared with average daily volumes of 21,506 shares in the past one quarter. The stock had hit a high of Rs 3,310.20 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 3,221 so far during the day. The stock had hit a 52-week low of Rs 2,510 on 15 November 2016.

The stock has gained 4.76% in six sessions to its ruling price, from a close of Rs 3,128.15 on 9 October 2017.

The stock had outperformed the market over the past one month till 16 October 2017, gaining 6.61% compared with the Sensex's 1.12% gains. The stock had also outperformed the market over the past one quarter, gaining 14.6% as against the Sensex's 1.91% rise. The scrip had, however, underperformed the market over the past one year, gaining 14.87% as against the Sensex's 17.92% rise.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto's consolidated net profit fell 0.6% to Rs 1193.58 crore on 1.3% rise in total income to Rs 6863.51 crore in Q2 September 2017 over Q2 September 2016.

As on 30 June 2017, surplus cash and cash equivalents stood at Rs 13256 crore.

Bajaj Auto manufactures motorcycles, three-wheelers and quadricycles. The company is the world's third largest motorcycle manufacturer and is the largest three wheeler and quadricycle manufacturer.

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