Shares of Bajaj Auto slipped over 4% amid a rising market today after the two-wheeler major reported a 19.3% fall in sales for November. Bajaj Auto stock fell 4.12% to Rs 3,595.50 against the previous close of Rs 3,750.30 on BSE. The large cap stock trades higher than 200-day moving averages but lower than 5-day, 20-day, 50-day and 100-day moving averages.
A total of 7,206 shares of the firm changed hands, amounting to a turnover of Rs 2.62 crore on the BSE. Market cap of Bajaj Auto slipped to Rs 1.06 lakh crore. The stock has gained 13 per cent in a year and risen 13% this year. The large cap stock hit a 52-week high of Rs 4,130 on September 1, 2022 and a 52-week low of Rs 3,028.35 on December 20, 2021.
Also Read: Stocks in news: Nykaa, UltraTech, Bajaj Auto, Blue Dart and more
Sales fell to 3.06 lakh units in November 2022 against 3.79 lakh units in November 2021. Exports of the firm too slipped 30% to 1.53 lakh units in the last month against 2.20 lakh units in the corresponding month of the last year. Domestic sales were also down 4% to 1.52 lakh units in November 2022 against 1.58 lakh units in the November 2021.
In second quarter of this fiscal, the firm reported a 20 per cent year-on-year (YoY) rise in standalone profit after tax (PAT) at Rs 1,530 crore compared with Rs 1,275 crore in the same quarter last year. Revenue from operations rose 16 per cent YoY to Rs 10,203 crore compared with Rs 8,762 crore in the corresponding quarter last year.
Meanwhile, Sensex surged over 450 points to hit an all-time high of 63,583.07 and Nifty gained over 100 points to scale a fresh peak of 18,887.60.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today