Bajaj Auto declines after subdued sales in October

Bajaj Auto lost 0.89% to Rs 2,799.50 at 10:20 IST on BSE after the company said its total sales rose 1% to 3.56 lakh units in October 2016 over October 2015.

The company announced the monthly sales volume data during market hours today, 2 November 2016.

Meanwhile, the S&P BSE Sensex was down 259.24 points or 0.93% at 27,617.37.

On BSE, so far 9,916 shares were traded in the counter as against average daily volume of 24,786 shares in the past one quarter. The stock hit a high of Rs 2,812.50 and a low of Rs 2,771 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016. The stock had hit a 52-week low of Rs 2,173.40 on 29 February 2016. The stock had underperformed the market over the past one month till 1 November 2016, sliding 0.26% compared with 0.04% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 3.26% as against Sensex's 0.45% fall.

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

Bajaj Auto's domestic sales rose 6% to 2.38 lakh units in October 2016 over October 2015. Exports declined 8% to 1.17 lakh units in October 2016 over October 2015.

On a consolidated basis, Bajaj Auto's net profit rose 7.2% to Rs 1200.72 crore on 0.2% decline in net sales to Rs 5949.32 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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