Bajaj Auto Shares At Life High After Healthy August Sales Growth
The Pulsar maker sold 3,35,178 motorcycles last month, a growth of 18% from the same period last year.
Shares of Baja Auto Ltd. touched a life high in early trade on Monday after the company's two-wheeler sales surged in August on the back of domestic demand even as exports were largely muted.
The Pulsar maker sold 3,35,178 motorcycles last month as against 2,85,031 units in the year-ago period—a growth of 18%. While domestic sales surged 30% to 2,08,621 units, exports rose 2% to 1,26,557 units.
The company's three-wheeler sales rose 11% year-on-year to 62,626 units. Exports increased 41% to 17,420 units.
Overall, the Pune-based bike company shipped 3,97,804 units to dealerships, as against 3,41,648 units a year-ago, clocking a growth of 16%.
In fiscal 2025 so far, overall sales grew 10% year-on-year to 18,54,029 units. This includes 15,83,636 two-wheelers (up 10%) and 2,70,393 three-wheelers (up 10%).
Shares of Bajaj Auto advanced 2.4% before paring gains to trade 1.8% higher at Rs 11,089 per share at 10:10 a.m., compared to a 0.24% advance in the NSE Nifty 50. Nifty Auto was down 0.4%.
The stock has risen 140% in the last 12 months and 66% year-to-date. Total traded volume so far in the day stood at 3.7 times its 30-day average. The relative strength index was at 82.
Of the 45 analysts tracking the company, 22 have a 'buy' rating, 10 recommend a 'hold' and 13 suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a potential downside of 12.3%.
