Bajaj Auto Shares Slide as Domestic Sales Drop

4 Nov 2024 , 07:44 PM

Bajaj Auto Ltd. shares dropped on November 4 after reporting October sales data that fell short of expectations. Total sales for October rose just 1.7% YoY, reaching 4.79 lakh units, below the anticipated 4.89 lakh units. Domestic sales declined 8% YoY to 3.03 lakh units, while exports increased 24% YoY to 1.75 lakh units.

In the commercial vehicles segment, domestic sales fell 6% YoY, whereas export sales jumped 46% YoY. The domestic two-wheeler segment saw an 8% YoY decrease, while exports rose 22% in October.

At the time of closing on November 4, 2024 shares of Bajaj Auto Ltd. is trading at ₹9534 which is a 3.46% dip than the previous close. Bajaj Auto Ltd. stock has gained a total of 76% in the last one year, and 42% gain since the beginning of the year.

Rakesh Sharma, Executive Director, shared that October was a destocking month for Bajaj Auto from a wholesale perspective, though retail sales rose 30%. Sharma highlighted strong retail growth in the 125cc and above segment, with a 20% increase in sales. MD Rajiv Bajaj projected FY25 sales could reach around 4.5 million units, boosted by exports and new models like the Pulsar 125.