Bajaj Auto shares decline 9% as Oct sales hit

MUMBAI: Shares of Bajaj Auto declined by more than 8 per cent following 34 per cent decline in sales for the month of October compared to the same period last year.

Despite the festive season, the country's leading two-wheeler maker saw its sales decrease from 250,175 to 165,477 in October. In the three-wheeler segment, sales declined by 6 percent.

On BSE, Bajaj Auto closed at Rs 495, down by 9.17 per cent from its previous close.

���Sales has not gone up after the festive season when dealers start building their inventory. This reflects overall slowdown in the industry due to non-availability of credit which is also affecting the retail sales heavily,��� Vaishali Jajoo, auto analyst at Angel Broking, said.

Tejas Doshi, head-research, Sushil Securities said, ���October being the festive month lot of bookings are done and dealers might report in the month of November. Two wheelers sales, otherwise, has been good for the last six months so we cant attribute this figure to the overall slowdown in the industry.���