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Bajaj Auto share price slips 3% on weak January sales

Bajaj Auto shares touched an intraday low of Rs 3,175.9 on BSE, falling 3.45% as against the previous close of Rs 3,289.50.

twitter-logoBusinessToday.In | May 11, 2020 | Updated 16:02 IST
Bajaj Auto share price slips 3% on weak January sales
The fall in share price was in line with '2/3 Wheelers' sector that has declined by 0.39% on Tuesday.

Shares of Bajaj Auto fell on Tuesday after the leading automobile manufacturer reported 3.1% decline in total sales at 3,94,473 units in January 2020. The company had recorded sales of 4,07,150 units in January 2019.

Bajaj Auto shares touched an intraday low of Rs 3,175.9 on BSE, falling 3.45% as against the previous close of Rs 3,289.50. The fall in share price was in line with '2/3 Wheelers' sector that has declined by 0.39% on Tuesday.

Vomule-wise, 0.35 lakh and 11.6 lakh shares were trading on BSE and NSE counters, respectively. Market depth data on BSE suggested 55% sellers offering as against 45% buyers bidding on the stock.

Currently, Bajaj Auto stock price trades higher than 5, 20, 50, 100 and 200-day moving averages.

Total domestic sales of the company were 16.6% lower at 1,92,872 units last month as compared to 2,31,461 units in the same month a year ago.

The automaker posted 22% decline in its domestic two-wheeler sales to 1,57,796 units in the month of January 2020 as against 203,358 units in January 2019.

Total exports of Bajaj Auto increased 15% to 201,601 units in January, from 1,75,689 units, YoY.

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