Bajaj Auto spurts after strong sales in May

Bajaj Auto rose 4.84% to Rs 2,885.40 at 11:55 IST on BSE after the company reported a 30% growth in its total vehicles sales at 4.07 lakh units in May 2018 over May 2017.

The announcement was made before market hours today, 1 June 2018.

Meanwhile, the S&P BSE Sensex was down 2.21 points, or 0.01% to 35,320.17.

On the BSE, 71,000 shares were traded in the counter so far compared with average daily volumes of 31,000 shares in the past two weeks. The stock had hit a high of Rs 2,944.15 and a low of Rs 2,777 so far during the day. The stock hit a record high of Rs 3,472.60 on 2 February 2018. The stock hit a 52-week low of Rs 2,695 on 7 July 2017.

 

Bajaj Auto's total domestic sales rose 29% to 2.24 lakh units, while total exports surged 31% to 1.82 lakh units in May 2018 over May 2017.

On a consolidated basis, Bajaj Auto's net profit rose 36.33% to Rs 1175.47 crore on 38.41% increase in net sales to Rs 6650.81 crore in Q4 March 2018 over Q4 March 2017.

Bajaj Auto manufactures motorcycles and three-wheelers.

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