Bajaj Auto posts highest sales for September, stock up 17 per cent

Bajaj Auto sold 5,02,009 units this September, which is 17 per cent more than the sale of 4,28,752 lakh units sold in September 2017. This is the highest ever monthly sales reported and has beaten analyst expectations.

The surge in sales is attributed to an increase in domestic sales as well as exports. The sale of motorcycles rose 17 per cent to 4,30,939 units in September 2018 versus 3,69,678 units in September 2017. Moreover, sales of commercial vehicles rose 20 per cent to 71,070 units in September 2018 in comparison to 59,074 units in September 2017.

Domestic sales in September surged 11 per cent to 3.11 lakh units while exports increased 30 per cent to 1.90 lakh units YoY.

On a half-yearly basis, the company's motorcycles sales rose 27 per cent to 21,56,506 units in April-Sep, 2018 as against 16,94,435 units in April-Sep, 2017. The sales of commercial vehicles posted an impressive growth of 54 per cent to 4,09,579 units in April-Sep, 2018 from 2,65,509 units in April-Sep, 2017. Thus, the total sales increased 31 per cent to 25,66,085 units in April-Sep, 2018 from 19,59,944 units in April-Sep, 2017.

The shares of Bajaj Auto opened at Rs. 2,700 per share on Monday and hit a high and low of Rs. 2,728.85 per share and Rs. 2,621.55 per share, respectively. At 11:09 am, the stock was trading at Rs. 2,675.00 per share, down 0.45 per cent.