Bajaj Auto surges up to 5% on better-than-expected Q1 net profit

Shares of Bajaj Auto moved higher by 5 per cent to Rs 2,680, recovering 7 per cent from intra-day low on the BSE after the company reported a better-than-expected net profit for the quarter ended June 2019 (Q1FY20).

The stock had hit a low of Rs 2,506 in early morning deal before the announcement of results. Eventually, shares settled at Rs 2,619.40 apiece, up around 3 per cent 

Bajaj Auto reported a flat consolidated net profit at Rs 1,126 crore in Q1FY20, against Rs 1,115 crore in Q1FY19. Operational revenues during the quarter grew 4 per cent to Rs