Bajaj Auto share gains over 3% after May sales jump 114%

Bajaj Auto share rose over 3% today after the firm reported a 114% rise in May sales . The auto major's stock touched an intraday high of Rs 4,347.95, rising 3.78% against previous close of Rs 4,189.50 on BSE.

The stock has gained after 2 days of consecutive fall. Bajaj Auto share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  The large cap stock has risen 55.43% in one year and risen 24.31% since the beginning of this year.

Total 0.28 lakh shares changed hands amounting to turnover of Rs  11.87 crore on BSE. Market cap of the firm rose to Rs 1,23,882 crore.

The share hit 52-week high of Rs 4361.20 on February 4, 2021 and 52-week low of Rs 2,580 on June 12, 2020.

Bajaj Auto reported sales of 271,862 units in May 2021 against 127,128 units in May 2020, logging a growth of 114%.

Total sales include domestic sales of 60,830 units climbed 52% in May on a year-on-year basis. Exports last month stood at 2,11,032 units rising 142% against the corresponding period last year.

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In Q4 of previous fiscal, Bajaj Auto reported a 15 per cent rise in consolidated net profit to Rs 1,551 crore on the back of robust sales across domestic and international markets. The Pune-based company reported a net profit of Rs 1,354 crore in the January-March quarter of 2019-20.

Revenue from operations rose 26 per cent to Rs 8,596 crore in last quarter against Rs 6,816 crore in the same period of FY20. In Q4 , the company sold a total of 11,69,664 two-wheelers and commercial vehicles, up 18 per cent compared to 9,91,961 units in the January-March quarter of the preceding fiscal.

In last fiscal, the company posted a consolidated net profit of Rs 4,857 crore, down 7 per cent compared to Rs 5,212 crore in 2019-20. Total revenue declined to Rs 27,741.08 crore in the last fiscal against Rs 29,918.65 crore in 2019-20.