Two-wheeler stocks such as TVS Motor, Hero MotoCorp, and Bajaj Auto were among the top gainers on the Nifty Auto index, surging up to 1.6 per cent in the intra-day deals on the National Stock Exchange
At 12:49 pm; Nifty Auto index, top loser among sectoral indices, was down 3 per cent, as compared to 1.2 per cent decline in the Nifty50 index.
Brisk Pulsar 125cc sales cushion firms' margins, even as net profit dips 19% on lower volumes
Bajaj Auto is witnessing a strong revival in various export markets, including Africa and Latin America, as they were not hit as hard by the COVID-19 pandemic
Higher premium bike sales offset lower export incentives, collapse of 3W sales
The two-wheeler major had posted a net profit of Rs 1,523.31 crore in the July-september period of previous fiscal
The company's revenue fell 7.15 per cent YoY to Rs 7,155.86 crore, as against Rs 7,707.32 crore in Q1FY20
According to the company's monthly auto sales data, Bajaj Auto sold 10.53 lakh units during Q2FY21, down 10.2 per cent on YoY basis
Double digit growth in exports and premiumisation trend in the domestic market are triggers
Exports of two-wheelers stood at 185,351 units last month, marking a rise of 16 per cent as compared to 159,382 units in September last year
Bajaj Auto on Thursday reported a 10 per cent increase in its total vehicle sales at 4,41,306 units in September.
The gains for India's largest two-wheeler makers are largely expected to come from the rural market due to a shift to personal mobility and higher sales of entry-level bikes
Like major banks - State Bank of India, Axis Bank, and IndusInd Bank, top auto brands such as Maruti Suzuki, Bajaj Auto, and Hero MotoCorp have suffered significant losses
The last four months of 2020 include various auspicious occasions such as Navratri, Dussehra, Diwali, etc, hence, consumer's discretionary purchases rise in such months
Benefits will be restricted to Rs 2 crore per exporter from Sep 1 to Dec 31, and may be discontinued from Jan 1, 2021
Profits of Bharat Forge, Bajaj Auto and Balkrishna Industries will also be hit
The Newark-based firm has been reviewing its India operations as part of its global rewire strategy announced in July 2020
Having acquired iconic British brand Norton in April, the Chennai-based company is looking to gain speed in the performance bike market
Demand for the last-mile vehicle has collapsed amid restricted movement
Total two-wheeler sales declined 1 per cent to 3,21,058 units as against 3,25,300 units in August 2019