Bajaj Auto shrugs off weak September sales

Bajaj Auto rose 1.84% to Rs 2,356.40 at 11:14 IST on BSE after the company said its total sales dropped 4% to 3.84 lakh units in September 2015 over September 2014.

The company announced the monthly sales volume data during market hours today, 5 October 2015.

Meanwhile, the S&P BSE Sensex was up 397.29 points or 1.52% at 26,618.24.

On BSE, so far 8,930 shares were traded in the counter as against average daily volume of 32,899 shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.12% at the day's high of Rs 2,363 so far during the day. The stock fell as much as 0.09% at the day's low of Rs 2,311.75 so far during the day. The stock had hit a record high of Rs 2,690 on 24 November 2014. The stock had hit a 52-week low of Rs 1,913.80 on 30 April 2015.

The stock had outperformed the market over the past one month till 1 October 2015, gaining 2.76% compared with Sensex's 2.04% rise. The scrip had, however, underperformed the market in past one quarter, sliding 8.31% as against Sensex's 6.42% fall.

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

Bajaj Auto's motorcycles sales declined 5% to 3.30 lakh units in September 2015 over September 2014. Commercial vehicles sales rose 3% to 54,172 units in September 2015 over September 2014. Exports shed 0.23% to 1.73 lakh units in September 2015 over September 2014.

Bajaj Auto's net profit rose 37.1% to Rs 1014.80 crore on 7.2% growth in net sales to Rs 5505.06 crore in Q1 June 2015 over Q1 June 2014.

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

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