Bajaj Auto advances after strong February sales

Bajaj Auto rose 0.48% to Rs 3,033.40 at 11:42 IST on BSE after the company reported a 31% growth in its total vehicles sales at 3.57 lakh units in February 2018 over February 2017.

The announcement was made before market hours today, 1 March 2018.

Meanwhile, the S&P BSE Sensex was down 66.68 points or 0.2% at 34,117.36.

On the BSE, 14,000 shares were traded on the counter so far as against average daily volumes of 12,000 shares in the past two weeks. The stock had hit a high of Rs 3,077.40 and a low of Rs 3,032.70 so far during the day. The stock had hit a record high of Rs 3,472.60 on 2 February 2018 and a 52-week low of Rs 2,695 on 7 July 2017.

Bajaj Auto's domestic sales rose 35% to 2.14 lakh units in February 2018 over February 2017. Exports surged 26% to 1.43 lakh units.

Bajaj Auto reported a net profit of Rs 952.44 crore on revenue of Rs 6369.34 crore in the quarter ended December 2017.

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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