Bajaj Auto shrugs off weak sales in August

Bajaj Auto rose 1.05% to Rs 1,858.75 at 11:45 IST on BSE after the company said its total sales fell 9% to 312,188 units in August 2013 over August 2012.

The company announced the August sales during trading hours today, 2 September 2013.

Meanwhile, the S&P BSE Sensex was up 146.01 points or 0.78% at 18,765.73.

On BSE, 15,000 shares were traded in the counter as against average daily volume of 32,489 shares in the past one quarter.

The stock hit a high of Rs 1,864.55 and a low of Rs 1,837.10 so far during the day. The stock had hit a record high of Rs 2,228.95 on 3 January 2013. The stock had hit a 52-week low of Rs 1,605 on 31 August 2012.

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

Bajaj Auto's motorcycle sales declined 8% to 278,583 units in August 2013 over August 2012. Sales of commercial vehicles fell 17% to 33,605 units in August 2013 over August 2012. Export sales gained 10% to 144,160 units in August 2013 over August 2012.

Bajaj Auto's net profit rose 2.7% to Rs 737.68 crore on 2% growth in net sales to Rs 4808.73 crore in Q1 June 2013 over Q1 June 2012.

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

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