Bajaj Auto Shares Jump Back In Green After 2 Days As Feb Sales Numbers Come In

  • Benzinga India
  • Stock Market News
Bajaj Auto Shares Jump Back In Green After 2 Days As Feb Sales Numbers Come In

Benzinga - Bajaj Auto (NS: BAJA ) shares were upbeat on Friday as the company posted its sales numbers for February.

What Happened: The auto major reported a 24% surge in sales with a total of 3.46 lakh units compared to 2.80 lakh units in the same period last year. This growth was driven by a strong performance in both domestic and export markets.

Two-wheeler sales recorded a 25% growth, reaching a total of 2.94 lakh units compared to 2.35 lakh vehicles sold in the same month last year. The commercial vehicle segment witnessed a 16% growth, with sales totalling 51,978 units.

The company’s total sales comprised exports of 1.39 lakh units, marking a notable 10% year-over-year increase, and domestic sales of 2.06 lakh units, reflecting an impressive 35% YoY growth. Commercial vehicle exports jumped up around 31% to 15,611 as compared to the 11,914 units in February 2023.

Shares of Bajaj Auto turned ex-buyback on February 29. The company’s board had approved a ₹4,000-crore share buyback in January, the record date for which was on February 28.

Price Action: Bajaj Auto’s share price was up 1.79% to trade at ₹8,051.15 shortly after the markets opened on Friday.

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