Bajaj Auto stock trading higher on 23% rise in March sales

The Bajaj Auto stock rose in early trade today after the firm reported a 23 per cent rise in total sales at 3,34,348 units in March compared to 2,72,197 units during the same month a year ago. At 11:54 am, the stock was trading 1.35% or 37.10 points higher at 2,786 level on BSE. It hit an intra-day high of 2,790 on BSE.

The stock opened at 2,765 level and hit an intra day low of 2750. Market cap for Bajaj Auto rose to Rs 80,506 crore on BSE.

Domestic sales of the auto firm stood at 2,03,600 units against 1,69,279 units in the corresponding month last year, up 20 per cent, the company said in a BSE filing.

Total motorcycle sales during the month grew by 11 per cent to 2,69,939 units from 2,44,235 units in the same month last year.

Bajaj Auto said its total commercial vehicle sales during the month under review more than doubled to 64,409 units in March 2018. It was at 27,962 units in March 2017. Exports in March was up 27 per cent to 1,30,748 units as against 1,02,918 units in the same month last year, the company said.

Total sales of the company for 2017-18 stood at 40,06,791 units, up 9 per cent, over 36,65,950 vehicles sold in 2016-17.

With PTI inputs