52-week high alert: This automobile company reports a 107 per cent increase in its domestic commercial sales YoY!

Shares of this company jumped more than 25 per cent in the last 6 months.

Bajaj Auto Limited reported its May 2023 sales. In two–wheeler segment of the company, the domestic sales of the company grew by 103 per cent on a YoY basis. The export sales of the company declined by 26 per cent on a YoY basis, because of muted demand in the export market due to tightening in monetary policy in various countries which resulted in less money in the hands of the people and therefore, consumption slowed down. 

In the commercial vehicle segment of the company, the domestic sales of the company grew by 107 per cent on a YoY basis. The export sales of the company increased by 36 per cent on a YoY basis. The Indian consumption-driven economy and control of inflation have led to growth in domestic sales. The stock market reacted positively and the stock made a fresh 52-week high.

Bajaj Auto is an Indian company which manufactures motorcycles, three-wheelers, and quadricycles. Bajaj Auto is ranked as the world's third-largest motorcycle manufacturer and its largest three-wheeler and quadricycle manufacturer. 

On Friday, the stock opened at Rs 4651.00, with a high and low of Rs 4707.25 and Rs 4649.05. The stock closed trading at Rs 4666.70, up by 0.55 per cent.   
Overall, the sales of the company showed excellent growth, and investors should keep a close eye on this stock.
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