Bajaj Auto gains on bargain hunting

Bajaj Auto rose 3.32% to Rs 1,933.50 at 11:22 IST on BSE on bargain hunting after the stock fell 8.29% in the preceding four trading sessions to Rs 1,871.40 on 20 May 2014, from a recent high of Rs 2,040.55 on 14 May 2014.

Meanwhile, the BSE Sensex was down 28.89 points, or 0.12%, to 24,347.99.

On BSE, so far 1,243 shares were traded in the counter, compared with an average volume of 20,966 shares in the past one quarter.

The stock hit a high of Rs 1,938 and a low of Rs 1,871 so far during the day. The stock hit a 52-week high of Rs 2,193.85 on 17 October 2013. The stock hit a 52-week low of Rs 1,683.35 on 28 August 2013.

The stock had underperformed the market over the past one month till 20 May 2014, falling 7.05% compared with 7.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.68% as against Sensex's 18.70% rise.

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

Bajaj Auto's net profit fell 0.24% to Rs 763.93 crore on 2.55% increase in total income to Rs 5117.10 crore in Q4 March 2014 over Q4 March 2013.

Bajaj Auto is India's second largest two-wheeler maker after Hero MotoCorp.

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