Bajaj Auto shifts into higher gear on good sales in Dec

Bajaj Auto gained 0.56% to Rs 3,311.80 at 10:45 IST on BSE after the company said that its total sales rose 30% to 2.92 lakh units in December 2017 over December 2016.

The announcement was made during market hours today, 2 January 2018.

Meanwhile, the S&P BSE Sensex was down 5.94 points, or 0.02% to 33,805.06.

On the BSE, 9,667 shares were traded in the counter so far, compared with average daily volumes of 45,740 shares in the past one quarter. The stock had hit a high of Rs 3,344.50 and a low of Rs 3,285.25 so far during the day. The stock had hit a record high of Rs 3,381 on 26 December 2017. The stock had hit a 52-week low of Rs 2,556 on 2 January 2017.

The stock had underperformed the market over the past one month till 1 January 2018, gaining 2.51% compared with 2.98% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 5.96% as against Sensex's 8.08% rise. The scrip had also underperformed the market in past one year, rising 25.04% as against Sensex's 26.99% rise.

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

Bajaj Auto said that domestic sales rose 25% to 1.49 lakh units in December 2017 over December 2016. Exports rose 35% to 1.43 lakh units in December 2017 over December 2016.

Total motorcycle sales rose 13% to 2.28 lakh units in December 2017 over December 2016. Total commercial vehicles sales jumped 187% to 63,785 units in December 2017 over December 2016.

Bajaj Auto's consolidated net profit fell 0.6% to Rs 1193.58 crore on 8.8% rise in net sales to Rs 6474.78 crore in Q2 September 2017 over Q2 September 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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