With October bringing back cheer to its vehicle sales, shares of Bajaj Auto Ltd (BAL) hit their 52-week high today.
Bajaj Auto shares hit a 52-week high of Rs 1,890.50 on the BSE, powered by strong October vehicle sales, before coming down marginally to Rs 1,890, a gain of Rs 44.95.
Its Discover model, which Bajaj claimed last month dislodged Splendor as the highest selling model globally, cemented its position improving upon its sales performance of the previous month.
BAL sold 3,61,186 motorcycles in October this year, marginally higher than the performance during October last year when it sold 3,51,083 units, an increase of 3 per cent.
But Auto companies have been at pains to point out that the festival season this year is different from last year in that the Diwali season has begun a month late this year and that the Dussehra and Diwali, which were celebrated in the same month last year, are separated by three weeks this season. Hence, the sales of October 2011 with October 2012 may not be strictly comparable.
Bajaj said that it recorded the highest-ever domestic motorcycles sales of 2.62 lakh units during October this year and the sales of Discover model was the highest ever at 1,55,000 units.
The company said last month that during September this year it had sold 1,22,918 Discover model vehicles, marginally edging up Hero Splendor's sales of 1,21,018 units.
What was heartening was that the sales of commercial vehicles too jumped to 50,316 units, the highest-ever for any month. The company had sold 44,191 CVs during October last year.
Total vehicle sales during October this year were 4,11,502 units which was a 4 per cent improvement over the previous year (3,95,274 units). However, exports declined marginally to 1,26,091 units (1,31,948 units), a 4 per cent fall.