Bajaj Auto's Stocks Surge Amid Impressive Wholesales Growth
Shares of Bajaj Auto surged 4% following the announcement of a 5% year-on-year increase in total vehicle wholesales for August. The stock closed at Rs 8,961.95 on the BSE. However, domestic sales dropped 8%, while exports showed a notable 29% rise year-on-year.
- Country:
- India
Bajaj Auto's shares experienced a significant boost on Monday, climbing 4% in response to the company's announcement of a 5% year-on-year increase in total vehicle wholesales for August.
The stock closed at Rs 8,961.95 on the Bombay Stock Exchange (BSE), having peaked at Rs 9,038 during intraday trading. On the National Stock Exchange (NSE), the stock ended the day 4% higher at Rs 8,978, reflecting investors' positive sentiment.
Despite a decline in total domestic sales by 8%, which amounted to 2,32,398 units, the Pune-based automaker saw a substantial 29% rise in exports, totaling 1,85,218 vehicles, compared to the previous year. The firm's impressive export performance contributed to its overall success despite local market challenges.
(With inputs from agencies.)
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