Bajaj Auto skids 4% on disappointing February sales; hits over 5-month low

The company reported a 10 per cent year on year drop in total auto sales at 354,913 units for the month of February 2020.

Shares of Bajaj Auto slipped 4 per cent to Rs 2,785 on the BSE on Monday after the company reported a 10 per cent year on year (YoY) drop in total auto sales at 354,913 units for the month of February 2020.

The two-wheeler maker missed analysts' expectations by a decent margin. Nirmal Bang Equities, for instance, had expected total auto sales of 382,844 units, while Emkay Global Financial Services had expected total sales of 374,000 units for the month.

The stock was trading lower for the seventh straight day, plummeting 10 per cent during the period, as against a 7 per