Bajaj Auto slips after sales decline in July

Bajaj Auto fell 1.39% to Rs 2,482.40 at 11:03 IST on BSE after the company's sales declined for the first time in two years in July.

Meanwhile, S&P BSE Sensex was down 424.20 points or 1.13% at 37,056.92.

On BSE, 7,762 shares were traded in Bajaj Auto counter, compared to a 2-week average of 34,000 shares. The stock hit an intraday high of Rs 2,515.30 and an intraday low of Rs 2,475.95. It hit a 52-week high of Rs 3,145.55 on 17 May 2019 and a 52-week low of Rs 2,400 on 29 July 2019.

Bajaj Auto's total sales declined 5% to 3.81 lakh units in July 2019 over July 2018. Total domestic vehicle sales declined 13% to 2.05 lakh units while total exports rose by 8% to 1.76 lakh units in July 2019 over July 2018. The announcement was made during trading hours today, 1 August 2019.

Total motorcycle sales fell 3% to 3.22 lakh units in July 2019 over July 2018. Commercial vehicles sales also decreased 12% to 59,320 units during July 2019 over July 2018.

Bajaj Auto's managing director, Rajiv Bajaj, was quoted by the media as saying that the company does not see any greenshoots in demand yet. Domestic 2-wheeler volumes might continue to decline in August, he added.

Bajaj Auto's consolidated net profit fell 2.8% to Rs 1,012.17 crore on a 4.1% increase in net sales to Rs 7,565.01 crore in Q1 June 2019 compared with Q1 June 2018.

Bajaj Auto is an Indian manufacturer of motorcycles, three-wheelers and parts. The company's business segments include automotive, investments and others. The company's vehicles include two-wheelers and commercial vehicles.

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