Bajaj Auto shares up 4%; mcap rises by Rs 2,731 cr post Q4 nos

Bajaj Auto's scrip today rose by 4 per cent after the company reported 29.18 per cent increase in standalone net profit for the fourth quarter ended March 31.
Shares of the company gained 3.96 per cent to settle at Rs 2,478.85 on BSE. Intra-day, it climbed 5 per cent to Rs 2,505.
At NSE, the scrip went up by 4 per cent to settle at Rs 2,475.30.
Tracking rally in the stock, the company's market valuation went up by Rs 2,730.74 crore to Rs 71,729.74 crore.
Bajaj Auto today reported 29.18 per cent increase in standalone net profit to Rs 803.06 crore for the fourth quarter ended March 31, riding on robust sales growth.

The company had posted a standalone net profit of Rs 621.62 crore in the same period of the previous fiscal, Bajaj Auto said in a BSE filing.

Standalone net sales during the period under review stood at Rs 5,303.89 crore as against Rs 4,623.7 crore in the year-ago period, up 14.71 per cent.
Total volume sales stood at 8,72,458 units as against 7,82,669 units in the corresponding period a year ago, a growth of 11.47 per cent, it said.
The Board of Directors has recommended a final dividend of Rs 5 per share at 50 per cent. The total amount of final dividend and tax thereon, including the amount paid as interim dividend, amounts to Rs 1,916 crore, the company said.