Bajaj Auto - Aug 2020 Sales Volume - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"Bajaj Auto reported better than expected monthly sales numbers for the month of August 2020. Total sales were down by 9% YoY to 3,56,199 units. Domestic sales were down by 11% YoY to 185879 units while exports have rebounded strongly MoM and were down by 6% YoY at 170,320 units. Two wheeler sales have rebounded strongly from July and were down by 1% YoY at 3,21,058 units with domestic two wheeler sales registering a positive growth of 3% YoY to 1,78,220 units though exports were down marginally by 6% YoY to 1,42,838 units.

Commercial vehicles sales continue to remain under pressure, down by 46% YoY at 35,141 units. Domestic commercial vehicles sales were down by 78% YoY to 7,659 units while exports did much better at 27,482 units down by 7% YoY.

We expect the domestic two wheeler segment will continue to do well driven by pent up demand and inventory push while exports are also expected to improve from current levels. In the commercial vehicles space we expect exports to normalize very soon while domestic sales will improve only gradually as restrictions are eased in India."

Shares of BAJAJ AUTO LTD. was last trading in BSE at Rs.2881.35 as compared to the previous close of Rs. 2958.8. The total number of shares traded during the day was 50194 in over 6443 trades.

The stock hit an intraday high of Rs. 2961.9 and intraday low of 2845. The net turnover during the day was Rs. 145148268.

Source : Equity Bulls

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