Bajaj Auto tumbles after poor October sales

Bajaj Auto lost 4.18% to Rs 2,443.10 at 10:31 IST on BSE after the company said that its total sales fell 9% to 3.52 lakh units in October 2015 over October 2014.

The company announced the October sales volume data during market hours today, 2 November 2015.

Meanwhile, the S&P BSE Sensex was down 89.95 points or 0.34% at 26,566.88.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 27,908 shares in the past one quarter.

The stock hit a high of Rs 2,555 and a low of Rs 2,422.65 so far during the day. The stock had hit a 52-week low of Rs 1,913.80 on 30 April 2015. The stock had hit a record high of Rs 2,690 on 24 November 2014.

The stock had outperformed the market over the past one month till 30 October 2015, surging 10.38% compared with Sensex's 1.92% rise. The scrip had also outperformed the market in past one quarter, gaining 1.02% as against Sensex's 3.78% fall.

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

Bajaj Auto's motorcycles sales fell 8% to 3.08 lakh units in October 2015 over October 2014. Sales of commercial vehicles dropped 10% to 44,089 units in October 2015 over October 2014. Exports declined 19% to 1.27 lakh units in October 2015 over October 2014.

Bajaj Auto's net profit rose 57.9% to Rs 933.06 crore on 2.6% growth in net sales to Rs 5980.63 crore in Q2 September 2015 over Q2 September 2014.

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

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