Bajaj Auto shares slump over 8% after September sales data

Shares of Bajaj Auto Ltd tumbled in Thursday's early trade after the two-wheeler maker reported its monthly sales figures for September 2026. The stock declined 8.47 per cent to hit a day's low of Rs 9,939.90 on BSE, compared with its previous close of Rs 10,860.

The decline came after the company reported a 12 per cent year-on-year (YoY) drop in domestic two-wheeler sales in September. According to an exchange filing, Bajaj Auto sold 2,39,771 two-wheelers in the domestic market during the month, compared with 2,73,188 units in September 2025.

Exports, however, increased 34 per cent YoY to 2,11,723 units during September 2026.

As a result, Bajaj Auto's total two-wheeler sales rose 5 per cent YoY to 5,38,443 units during the month.

For the April-September period of FY27, the company's total sales increased 24 per cent YoY to 29,87,135 units, according to the exchange filing.

Separately, Bajaj Auto expects to launch its first electric motorcycle in FY28, with exports expected to be prioritised over the domestic market, Chief Financial Officer Dinesh Thapar said during the company's post-earnings media conference call on Wednesday.

"Electric motorcycle is clearly under development and, all things going well, we should start to see some launch happening sometime in FY28," Thapar said.

The Pune-based automaker is working on electrification of its Pulsar and Boxer motorcycle platforms.

Q1 earnings

Bajaj Auto reported a strong June quarter performance, sustaining robust margins despite a sharp rise in input costs.

Following its Q1 results, the stock has received 'Buy' or 'Outperform' ratings from Goldman Sachs, Bernstein and Nomura; 'Hold' or 'Neutral' ratings from HSBC, Jefferies and BNP Paribas; and 'Sell' or 'Underweight' ratings from UBS, Citi and Morgan Stanley, respectively.

Technical view

Gaurav Bissa, Senior Vice-President at InCred Capital, said more pressure could be on the cards. "Rs 10,000 is an immediate support level for Bajaj Auto. If the stock slips below this level, then it may slip towards Rs 9,500-9,400 levels," he told Business Today Television (BTTV).