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Bajaj Auto share gains 8% on strong growth in September sales

The stock has risen 1.89% in one week and 0.91% in one month. Bajaj Auto shares trade higher than 5, 20, 100 and 200-day moving averages but lower than 50-day moving averages

twitter-logoBusinessToday.In | October 1, 2020 | Updated 17:29 IST
Bajaj Auto share gains 8% on strong growth in September sales
Bajaj Auto stock has gained after 2 days of consecutive fall

Bajaj Auto share price was trading as the top gainer on both the exchanges BSE and NSE in Thursday's session after the auto company announced 10% increase year-on-year (YoY) growth in its total sales for the month of September 2020.

The automaker sold a total of 441,306 vehicles (commercial vehicles and two-wheelers) in September 2020 as compared to the 402,035 units sold in September 2019,

Following the news, Bajaj Auto stock touched an intraday high of Rs 3,111.75, rising 8.07% as against the closing price of Rs 2,879.5 on BSE. The stock also touched an intraday low of Rs 2,930, after opening at Rs 2,930.

The stock has risen 1.89% in one week and 0.91% in one month. Bajaj Auto shares trade higher than 5, 20, 100 and 200-day moving averages but lower than 50-day moving averages.

Bajaj Auto stock has gained after 2 days of consecutive fall.

Domestic sales for the company stood at 228,731 units in September 2020, compared to 215,501 in September 2019 - registering a rise of 6%.

While two-wheelers sales in September 2020 were up by 20% YoY to 404,851 units, Commercial vehicle (CV) sales saw a 44% drop to 36,455 units sold in September 2020.

The company informed the exchanges on October 1 it also registered its highest exports ever in September 2020, registering a jump of 14% YoY to 212,575 total units, as compared to 186,534 during September 2019.

Bajaj Auto stock price closed 3.69% higher at Rs 2,985. 75 on BSE.

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