Bajaj Auto gains after good sales in September

Bajaj Auto rose 2.04% to Rs 3,171.65 at 9:42 IST on BSE after the company said its total sales rose 14% to 4.28 lakh units in September 2017 over September 2016.

The announcement was made on Monday, 2 October 2017. The stock market was shut on Monday, 2 October 2017, for a public holiday.

Meanwhile, the S&P BSE Sensex was up 204.28 points, or 0.65% to 31,488.

On the BSE, 4,924 shares were traded in the counter so far, compared with average daily volumes of 19,000 shares in the past two weeks. The stock had hit a high of Rs 3,197.50 and a low of Rs 3,163.05 so far during the day.

Bajaj Auto said total domestic sales rose 10% to 2.81 lakh units in September 2017 over September 2016. Exports rose 21% to 1.46 lakh units in September 2017 over September 2016.

Total motorcycle sales rose 11% to 3.69 lakh units in September 2017 over September 2016. Total commercial vehicles sales rose 32% to 59,074 units in September 2017 over September 2016.

On a consolidated basis, Bajaj Auto's net profit declined 19.52% to Rs 836.74 crore on 5.58% decline in net sales to Rs 5328.48 crore in Q1 June 2017 over Q1 June 2016.

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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