Bajaj Auto soars as Maharashtra Govt removes cap on taxi, auto permits

India Infoline News Service | Mumbai | June 19, 2017 15:10 IST

Bajaj Auto, an Indian two and three-wheeler manufacturing company, was riding the bulls during Monday’s trading session after Maharashtra government removed the cap on the issue of taxi, autorickshaw permits.

Bajaj Auto, an Indian two and three-wheeler manufacturing company, was riding the bulls during Monday’s trading session after Maharashtra government removed the cap on the issue of taxi, autorickshaw permits.
 
Bajaj Auto hit a high of Rs 2,894 per share or 3.02% in early hours of trade on the NSE. The stock has delivered 10% returns in a period of one year and has outperformed the BSE Sensex and BSE Auto indices overt the same time period.
The stock witnessed a huge spurt in volume by more than 1.03 times. The stock had hit its 52-week high of Rs 3,122 per share on 8 September 2016 and hit its 52-week low of Rs 2,510 on 21 November 2016.
 
Bajaj Auto Limited is an India-based manufacturer of motorcycles, three-wheelers and parts. The Company's business segments include Automotive, Investments and Others. The Company's vehicles include two-wheelers and commercial vehicles.

Stock view:
 
Bajaj Auto Ltd is currently trading at Rs 2823, up by Rs 14.05 or 0.5% from its previous closing of Rs 2808.95 on the BSE.
 
The scrip opened at Rs 2848 and has touched a high and low of Rs 2889.5 and Rs 2821.25 respectively. So far 469714(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 81282.59 crore.
 
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 3122 on 09-Sep-2016 and a 52 week low of Rs 2510 on 15-Nov-2016. Last one week high and low of the scrip stood at Rs 2870 and Rs 2801 respectively.
 
The promoters holding in the company stood at 49.3 % while Institutions and Non-Institutions held 25.11 % and 25.59 % respectively.
 
The stock is currently trading below its 50 DMA. 


***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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