Bajaj Auto - September 2020 sales numbers - Angel Broking

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

Bajaj Auto reported better than expected monthly sales numbers for the month of September 2020. Total sales were up 10% YoY to 441,306 units. Domestic sales were up by 6% YoY to 228,731 units while exports have rebounded strongly and were up by 14% YoY at 212,575 units. Two wheeler sales have improved sharply from August and were up by 20% YoY at 404,851 units with domestic two wheeler sales registering a positive growth of 24% YoY to 219,500 units while exports also reported positive growth of 16% YoY to 185,351 units. Commercial vehicles sales continue to remain under pressure, down by 44% YoY at 36,455 units. Domestic commercial vehicles sales were down sharply by 76% YoY to 9,231 units while exports did much better at 27,224 units thus registering a flat growth YoY. We expect the domestic two wheeler segment will continue to do well in October also due to pent up demand and inventory push prior to the festive season while exports are also to stabilize as supply chains have normalized. In the commercial vehicles space while exports have normalized domestic sales are expected to improve only gradually as restrictions are eased in India.

Shares of BAJAJ AUTO LTD. was last trading in BSE at Rs.2879.5 as compared to the previous close of Rs. 2898.9. The total number of shares traded during the day was 60854 in over 6119 trades.

The stock hit an intraday high of Rs. 2938 and intraday low of 2870.95. The net turnover during the day was Rs. 177120875.

Source : Equity Bulls

Keywords