Bajaj Auto shares hit yearly high on robust November sales

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Bajaj Auto shares hit yearly high on robust November sales
Credit: © Reuters.

MUMBAI - Shares of Bajaj Auto (NS: BAJA ), the Pune-based motorcycle manufacturer, soared to a yearly high at the National Stock Exchange (NSE) today, following a sizeable year-over-year sales increase for November. The company's stock reached Rs 6,149.35 ($1 = Rs 83.3) during early morning trades and later climbed an additional 1.7% to Rs 6,113.

The surge in share price comes on the back of a robust performance in the domestic market, with two-wheeler sales experiencing a significant uptick. Bajaj Auto reported a 77% jump in domestic two-wheeler sales, which totaled 218,597 vehicles. This contributed to an overall domestic sales increase of 69%, with 257,744 vehicles sold in November.

Despite a 6% decline in overall export numbers, including a similar drop in two-wheeler exports abroad, Bajaj Auto's total two-wheeler sales for November impressively rose by 33%, reaching 349,048 units. Additionally, commercial vehicle deliveries added to the positive tally with 53,955 units sold during the month.

The company's performance this year has been remarkable, with its share value appreciating by over 70%, significantly outpacing the Nifty Auto index's rise of nearly 40%. This growth trajectory highlights Bajaj Auto's strong market presence and its ability to maintain upward momentum amid varying market conditions.

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