Bajaj Auto shares fall 5% as October sales data disappoints
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Shares of Bajaj Auto fell by 5% to its day’s low of Rs 9,401 on the BSE after the company on Monday posted its October sales number reporting merely a 2% YoY rise to 4,79,707 units. The total number of vehicles sold was reported at 4,71,188 units in October 2023. The company reported its domestic sales figure for the 2-wheeler segment at 2,55,909 units, which has declined by 8% on a year-on-year basis from 2,78,486 units sold in October 2023. The exports, however, surged by 22% YoY to 1,58,463 units. The commercial vehicle segment witnessed a 4% decline in its sales to 47,922 units while the exports grew by 46% to 17,413 units, up from 11,912 units in the year-ago period. In the current financial year so far, the company recorded a 10% YoY surge in its total sales. The two-wheeler segment saw an 11% rise in domestic sales to 14,75,207 units, while exports grew by 8% to 9,23,290 units, totaling 23,98,497 units. In commercial vehicles, dome...