52-week high alert: This automobile company reports a 74 per cent increase in its commercial domestic sales YoY!
Shares of this company jumped more than 20 per cent in the last 6 months.
On April 5, 2023, Bajaj Auto Limited reported its March 2023 sales. In two–wheeler segment of the company, the domestic sales of the company grew by 42 per cent on a YoY basis. The export sales of the company declined by 37 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 74 per cent on a YoY basis. The export sales of the company declined by 51 per cent on a YoY basis. The Indian consumption-driven economy and control of inflation have led to growth in domestic sales. The market reacted positively and the stock gained more than 7 per cent in 5 trading sessions, taking the share price to a 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 Thursday, the stock opened at Rs 4240.15, with a high and low of Rs 4305 and Rs 4240.15. The stock closed trading at Rs 4288.80, up by 0.08 per cent.