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Bajaj Auto slips after domestic sales down 12% in November

Capital Market 

Bajaj Auto fell 0.44% to Rs 3,161.95 after total vehicles sales declined 1% to 4.03 lakh units in November 2019 as against 4.06 lakh units in November 2018.

The firm registered its highest ever exports sales. Exports jumped 14% to 1.95 lakh units in November 2019 compared with 1.72 lakh units in November 2018. Total domestic sales slipped 12% to 2.07 lakh units in November 2019 as against 2.34 lakh units in November 2018.

On a month-on-month basis, Bajaj Auto's total vehicles declined 12.94% in November 2019 compared with 4.63 lakh units in October 2019.

The announcement was made during market hours today, 2 December 2019.

Meanwhile, the S&P BSE Sensex was up 30 points or 0.07% to 40,823.70.

In the past one month, shares of Bajaj Auto fell 2.17% to its current market price of Rs 3,161.95, outperforming the Nifty Auto index's 4.23% fall in the same period.

On the technical front, the stock's RSI (relative strength index) stood at 50.094. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was currently trading above its 50-day moving average (DMA) placed at Rs 3,086.04 as well as above its 200 DMA placed at Rs 2,915.09.

Bajaj Auto's consolidated net profit soared 21.2% to Rs 1,523.31 crore on 4.2% decline in net sales to Rs 7,499.21 crore in Q2 September 2019 over Q2 September 2018.

Bajaj Auto manufactures of motorcycles, three-wheelers and parts.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 02 2019. 13:37 IST
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