Bajaj Auto slips on poor October auto sales

MUMBAI: Shares of Bajaj Auto weakened after a subdued start as traders booked profits following disappointing sales data for the month of October.

The company reported total sales of 3.8 lakh units in October, down 6 per cent, against 4.1 lakh units in year-ago period. The motorcycle sales fell 4 per cent to 3.4 lakh units against 3.6 lakh units, in the corresponding month last year.

Its sales of commercial vehicles in October declined to 37,000 units, down 26 per cent, as compared to 50,316 units, in year-ago period.

However, the exports rose to 1.38 lakh units, up 9 per cent, from 1.26 lakh units.

At 09:35 a.m.; the stock was at Rs 2,051, down 2.15 per cent, on the BSE. It touched a high of Rs 2,100 and a low of Rs 2,042 in trade today.