Markets

Bajaj Auto stock hits fresh 52-week high

R. Y. Narayanan Coimbatore | Updated on March 12, 2018

A file photo of Bajaj Auto Managing Director, Rajiv Bajaj.

bajaj

Bajaj Auto Ltd appears to be firing on all cylinders with the company breaking all the previous records in the sales of motorcycles and commercial vehicles and logging the highest-ever exports for any December during last month.

The market gave a thumbs-up to the stock sending it to a new high on both the BSE and NSE in the morning trade today.

In a statement to the stock exchanges, Rajiv Bajaj, Managing Director, BAL, stated that Bajaj Auto sold 2,98, 350 motorcycles in December 2012 compared with 2,63,699 units in the same month in 2011, a 13 per cent increase, marking the highest-ever December sales.

Commercial vehicles

The company also sold 45,596 commercial vehicles last month against 41,991 CVs in 2011, a nine per cent increase, and again the highest CV sales recorded by the company in any December.

The total sales at 3,43,946 units in December 2012 marked a 13 per cent increase over 3,05,690 vehicles in the same month in 2011, also a December record.

Exports

Exports jumped to 1,26,016 units in December 2012 (1,19,708), a 5 per cent improvement and the best December show by Bajaj Auto in export sales.

Cumulative sales

However, on a cumulative basis, sales during April-December 2012 was marginally lower compared to the same period in 2011.

While the motorcycle sales at 28.97 lakh units was down 1 per cent compared with 29.37 lakh units in 2011, that commercial vehicles at 3.58 lakh units was 9 per cent less compared to the December 2011 figure of 3.95 lakh units.

The total number of vehicles manufactured and exported in the first nine months of the current fiscal was also marginally less by 2 per cent and 4 per cent, respectively compared to the corresponding period in the previous fiscal.

New high

Bajaj Auto’s December 2012 numbers cheered the markets, particularly as the sales of commercial vehicles and exports showed a significant improvement.

On the BSE, the stock touched a fresh 52-week high of Rs 2,177 before easing to Rs 2,170.60, a gain of Rs 33.65. On the NSE, the scrip zoomed to Rs 2,178.65, a fresh 52-week high, before coming down to Rs 2,170, a gain of Rs 38.10 by 11 a.m.

The stock has gained more than 50 per cent in the past one year from a low of Rs 1,407.20 on January 16, 2012.

Published on January 02, 2013

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