Bajaj Auto reports sales growth of 33 per cent, stock rises 3 per cent

India's largest two and three-wheeler company has reported sales figure for the month of October. The company registers highest ever monthly sales in motorcycle segment.

Bajaj Auto's motorcycle sales for October 2018 were up 33 per cent at 4.32 lakh units as against 3.25 lakh units YoY. Of these, domestic sales comprised 2.81 lakh units as against 2.11 lakh units in October 2017.

The company's commercial vehicle sales, which is mostly 3-wheeler, were up 30 per cent at 73,714 units in October 2018 as against 56,686 units YoY.

In terms of exports, the company posted a 38 per cent increase. In October 2018, it exported 1.86 lakh units as against 1.35 lakh units, YoY.

Reacting to the news, the stock of Bajaj Auto was upbeat on Friday. The stock was trading at Rs. 2,684.95 per share, up by 3.42 per cent, while the sectoral index Nifty Auto was at 9,125.85, up by 3.54 per cent. The benchmark index Nifty50 was at 10,546.60, up by 166.15 points or 1.60 per cent, while BSE Sensex was at 34,981.91, up by 549.94 points or 1.60 per cent in the morning session.