Bajaj Auto extends intraday gains after declaring good Q2 result

Bajaj Auto rose 3.16% to Rs 2,851.75 at 15:21 IST on BSE after consolidated net profit rose 7.2% to Rs 1200.72 crore on 1.49% increase in total income to Rs 6775.03 crore in Q2 September 2016 over Q2 September 2015.

The Q2 result was announced during trading hours today, 28 October 2016.

Meanwhile, the S&P BSE Sensex was up 13.34 points or 0.05% at 27,929.24

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 22,595 shares in the past one quarter. The stock hit a high of Rs 2,858.95 and a low of Rs 2,767.50 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 30 days till 27 October 2016, falling 5.13% compared with 1.33% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 2.31% as against Sensex's 0.48% decline.

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

Bajaj Auto's operating earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to 22.3% in Q2 September 2016 from 21.2% in Q1 June 2016. This was achieved due to richer product mix, especially for domestic market, Bajaj Auto said.

Bajaj Auto's total sales fell 2% to 10.31 lakh units in Q2 September 2016 over Q2 September 2015.

The company's surplus cash and cash equivalents stood at Rs 11398 crore as on 30 September 2016, as against Rs 10701 crore as on 30 June 2016.

Bajaj Auto said in a statement that the company continues to witness headwinds in international markets.

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

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