Bajaj Auto share rise as company reports 10% hike in sales
The company has surged by nearly 2% after touching an intraday high of Rs 2,944.95 on the index.
Bajaj Auto witnessed a rise of 10% in its sale for February 2019. The company sold a total of 393,089 units in February 2019 compared to 357,883 units in February 2018. This has led a rise in stock price of Bajaj Auto, as investors continued to have a buying sentiment. Every first and second day of a month, automakers reveal their sales data. At 1132 hours, the company was trading at Rs 2903 per piece up by Rs 7.4, or 0.23% on Sensex. However, the stock has surged by nearly 2% after touching an intraday high of Rs 2,944.95 on the index.
In the domestic sphere, Bajaj Auto leaped from a total sale of 214,023 units in February 2018, to 221,706 vehicles in February 2019 - witnessing a single-digit rise of 4%.
The firm saw a growth of 19% in sales, in the case of exports, by selling 171,383 units in the latest month as against 143,860 units a year ago same month.
In segment-wise performance, the company saw an overall growth of 10% in the motorcycle sales, selling 327,985 units compared to 297,514 units the previous year. A rise of 8% in the commercial vehicles sales was seen, with total 65,104 vehicles sold versus 60,369 vehicles last year.
With this, year-to-date, Bajaj Auto's total sales number now stands at 4,626,152 units versus 3,672,443 units in the corresponding period of previous year - registering an increase of 26%.
So far, the best performer in FY19, would be motorcycle segment for Bajaj Auto, as the company recorded sales of 3,913,335 units in April - February 2019, which grew by 26% compared to 3,099,395 units sold in April - December 2018. Moreover, commercial vehicles were also not faraway, as they posted a growth of 24% with sales of 712,817 units in current period, as against 573,048 units sold a year ago corresponding period.
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