Stocks

Bajaj Auto shares gain 2.5%

BL Internet Desk | Updated on August 01, 2018 Published on August 01, 2018

Shares of Bajaj Auto jumped as much as 2.5 per cent on Wednesday as the company has reported 30 per cent increase in sales at 4,00,343 units in July against 3,07,727 units in the year-ago month.

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After opening strong at Rs 2,712 against the previous close of Rs 2,700, the stock touched intraday high of Rs 2,768 and a low of Rs 2,712 on the BSE. In terms of equity volume, 0.65 lakh shares exchanged hands on the BSE.

 

At 12.15 pm local time, the company shares were trading up 1.23 per cent at Rs 2,733.90 on the BSE. On the NSE, the stock was up 1.13 per cent at Rs 2,730.50.

Bajaj Auto had posted double-digit growth in revenues and profits in the quarter ended June 2018. For the April-June 2018 period, revenues grew 26.6 per cent year-on-year to ₹,7267 crore led by a healthy overall volume growth of 38 per cent.

Export volumes grew 31 per cent. Depreciation of the rupee against the US dollar also helped improve realisations to ₹67.4 to a dollar from ₹66.8 to a dollar in the June 2017 quarter.

 

Published on August 01, 2018
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