Bajaj Auto slips as March sales decline

Bajaj Auto fell 0.59% to Rs 2,791.05 at 10:14 IST on BSE after the company's total sales declined 11% to 2.72 lakh units in March 2017 over March 2016.

The announcement was made during market hours today, 3 April 2017.

Meanwhile, the S&P BSE Sensex was up 148.84 points or 0.5% at 29,769.34

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 20,275 shares in the past one quarter. The stock had hit a high of Rs 2,832.05 and a low of Rs 2,780 so far during the day.

The stock had hit a record high of Rs 3,122 on 9 September 2016 and a 52-week low of Rs 2,350.15 on 8 April 2016. The stock had underperformed the market over the past 30 days till 31 March 2017, falling 0.86% compared with the Sensex's 2.71% rise. The scrip had also underperformed the market over the past one quarter, rising 6.59% as against the Sensex's 11.24% rise.

 

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto's domestic sales fell 17% to 1.69 lakh units in March 2017 over March 2016. Exports rose 1% to 1.02 lakh units in March 2017 over March 2016.

On a consolidated basis, Bajaj Auto's net profit fell 5.3% to Rs 976.82 crore on 8.6% decline in net sales to Rs 4975.56 crore in Q3 December 2016 over Q3 December 2015.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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