Bajaj Auto turns volatile after announcing Q1 results

Bajaj Auto was down 0.19% to Rs 2,819.45 at 13:39 IST on BSE amid intraday volatility after the company announced Q1 June 2017 results during market hours today, 20 July 2017.

Meanwhile, the S&P BSE Sensex was down 18.36 points or 0.06% at 31,936.99.

On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 26,956 shares in the past one quarter. The stock was volatile. The stock lost as much as 0.76% at the day's low of Rs 2,803.20 so far during the day. The stock rose as much as 1.07% at the day's high of Rs 2,855 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016 and a 52-week low of Rs 2,510 on 15 November 2016.

The stock had underperformed the market over the past one month till 19 July 2017, sliding 0.34% compared with the Sensex's 2.06% rise. The stock had also underperformed the market over the past one quarter, advancing 0.51% as against the Sensex's 8.93% rise. The scrip had also underperformed the market over the past one year, gaining 2.71% as against the Sensex's 15% rise.

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

Bajaj Auto's consolidated net profit fell 19.52% to Rs 836.74 crore on 2.8% decline in total income to Rs 6177.66 crore in Q1 June 2017 over Q1 June 2016.

The entire benefit on reduction in effective tax rates post GST has been passed on to the customers. This has resulted in a reduction in ex-showroom price of motorcycles, which were dependent on the Brand-State, varying from a low of Rs 200 to a high of Rs 6,500 per motorcycle, Bajaj Auto said.

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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