Shares of Bajaj Auto Ltd. hit an all time high on Wednesday as they rose for the third consecutive session. The stock saw its last record high on Sept. 2, after the company reported healthy sales growth in August.
The Pune-based two-wheeler maker reported a 16% year-on-year growth in its total vehicle wholesales, including exports, at 3,97,804 units in August. Total domestic sales rose 24% to 2.53 lakh units in the previous month, compared to 2.05 lakh units sold in the same month last year.
In fiscal 2025 so far, overall sales have grown 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%), according to August sales data.
Shares of the company rose as much as 3.01%, the highest level since Sept. 2, before paring gains to trade 2.79% higher at Rs 11,294.30 apiece, as of 10:00 a.m. This compares to a 0.10% decline in the NSE Nifty 50.
The stock has risen 68.41% year-to-date. Total traded volume so far in the day stood at 4.2 times its 30-day average. The relative strength index was at 77.14.
Out of 45 analysts tracking the company, 22 maintain a 'buy' rating, 10 recommend a 'hold' and 13 suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 13.9%.
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