Bajaj Auto weakens after October sales drop 9%

Shares of Bajaj Auto were down over 4% at Rs 2,439 on the Bombay Stock Exchange after the company reported 8.6% drop in total sales at 3,52,822 units in October 2015 compared with  3,86,017 units in October 2014.

Further, sales of commercial vehicles droppped 10% at 44,089 in October 2015 compared with 49,094 units in October 2014, the company said in a release adding that it includes 'Qute' export sales of 36 units.

Export sales during October 2015 declined 19% to 1,27,645 units compared with 1,58,547 units in October 2014, the release added.

The stock opened at Rs 2,530 and touched a high of Rs 2,555. At 12:15pm, over 282,000 shares were traded on both the stock exchanges.