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Bajaj Auto shares tumbled by over 5 per cent during intraday trade today to touch Rs 2,051 apiece as the Pune-based motorcycle major reported a 22 per cent decline in sales during February 2015.
The company’s exports have also seen a somewhat similar decline.
During February, Bajaj Auto sold 2.43 lakh two and three-wheelers against 3.13 lakh units in the same month of 2014. This represented a dip of 22 per cent.
Motorcycle sales were down 21 per cent at 2.16 lakh units (versus 2.75 lakh), while commercial vehicle sales dropped by 32 per cent to 27,242 units.
Exports also took a hit dropping by 20 per cent to 1.12 lakh units on the back of trouble in Nigeria, Sri Lanka, Egypt and Bangladesh.
On the BSE, the scrip hit a high of Rs 2,204 per share, and at 2.15 pm, it was trading at Rs 2,075 per share, lower by 4.01 per cent when the overall market was down 0.04 per cent.
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