Bajaj Auto Shares Rally 2.21% as March Sales Surge 25%

2 Apr 2024 , 02:22 PM

Bajaj Auto's shares surged by 2.21% to reach ₹9,241.25 on the BSE, following a two-day decline. The jump in share price correlates with a 25% increase in March sales reported by the company.

Bajaj Auto sold 3,65,904 units in March, marking an 11% year-on-year growth from 2,91,567 units sold in the same month last year. At the time of writing, the stock was trading at ₹9289.35 which is a 2.14% gain from the previous close.

Two-wheeler sales saw a significant rise of 27%, reaching 3,13,885 units compared to 2,47,002 units YoY. Domestic two-wheeler sales increased by 20% to 1,83,004 units in March.

Bajaj Auto is gearing up to launch a Compressed Natural Gas (CNG)--run motorcycle in June 2024, aiming to attract environmentally conscious consumers. MD Rajiv Bajaj emphasized that the new bike will target mileage-conscious riders and will be introduced under a distinct brand.

Bajaj noted the growing popularity of CNG-run vehicles, with 60,000 to 70,000 CNG-run 3-wheelers being sold monthly over the past five years.

The company introduced the Bajaj Engineering Skills Training (BEST) program last year to bridge the gap between theoretical education and practical skills in the manufacturing industry.

Rajiv Bajaj announced plans to expand skilling efforts across the group through Bajaj Beyond, building upon the insights gained from the BEST program.

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