 "bajaj auto, motorcycle, bike, two wheeler")
The Bajaj Auto stock rose 4 per cent after it announced a sharp growth in September dispatches to retailers. Led by the highest ever export volumes, the company posted 20 per cent year-on-year (YoY) growth in two-wheeler wholesale volumes in September.
Though the numbers are not comparable to last year owing to the difference in the festive season period, the Street was nevertheless surprised by the difference between estimates and reported numbers.
Bajaj Auto reported 16-24 per cent YoY growth for domestic and exports of two-wheelers, while Nomura had estimated the same to be in the 7-10 per cent range.
