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Bajaj Auto share price ends 3.21% lower on weak February sales

Bajaj Auto share price ended 3.21% or 92.75 points lower at Rs 2,797.90 compared to the previous close of on BSE

twitter-logoBusinessToday.In | March 2, 2020 | Updated 17:11 IST
Bajaj Auto share price ends 3.21% lower on weak February sales
Bajaj Auto share price has lost 12.17% since the beginning of this year and fallen 2.28% during last one year

Shares of Bajaj Auto fell on Monday after the leading automobile manufacturer reported a 10% fall in February sales. Bajaj Auto share price ended 3.21% or 92.75 points lower at Rs 2,797.90 compared to the previous close of on BSE. Bajaj Auto share price has lost 8.7% in last six sessions.

The large cap stock has lost 12.17% since the beginning of this year and fallen 2.28% during last one year. According to analysts' recommendations tracked by Reuters, 21 of 50  brokerages rate the stock "buy" or 'outperform', 14 "hold", nine "underperform" and six "sell".

Bajaj Auto reported total sales of 3,54,913 units in February 2020 against 3,93,089 units in the same month last year. Total domestic sales declined by 24 per cent at 1,68,747 units last month as compared to 2,21,706 units in February 2019, Bajaj Auto said.

Total 0.37 lakh shares changed hands amounting to turnover of Rs 10.60 crore on BSE.

Bajaj Auto Q3 result: Profit rises 15% to Rs 1,262 crore; revenue up 3%

Total two-wheeler sales of Bajaj Auto were down 5 per cent at 3,10,222 units last month as compared to 3,27,985 units in the year-ago month.

Domestic two-wheeler sales were at 1,46,876 units last month as against 1,86,523 units in February 2019, a decline of 21 per cent, it added.

Overall commercial vehicles sales also declined by 31 per cent at 44,691 units last month as compared to 65,104 units in the year-ago period with domestic sales dropping by 38 per cent at 21,871 units as against 35,183 units in February 2019.

Bajaj Auto said its total exports last month were up 9 per cent at 1,86,166 units as compared to 1,71,383 units in February 2019.

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