Bajaj Auto reports recovery in 2W exports - Auto sales numbers analysis: Angel Broking

Views of Mr. Shrikant Akolkar (Research Analyst- Automobiles, Angel Broking):

Bajaj Auto's August-17 total volumes grew by 3% to 3.35lakh units. Growth in the domestic volumes was flat at 0.2%. Within the domestic business, motorcycle volumes declined by 1.7% while CV volumes grew by 13.3%. In the exports however, company has seen 7.5% growth with 2W exports growing by 6.7% and CV exports growing by 11.8%. While company has been reporting recovery in the CV exports for last few months, the highlight of the August-17 volumes is the recovery in the 2W exports business which has been under pressure over the last three months. Company in the June quarter results indicated that it has entered in the new countries and we believe that it has helped Bajaj Auto to show improvement in the exports volumes. We continue to maintain accumulate rating on the stock.

Shares of BAJAJ AUTO LTD. was last trading in BSE at Rs.2918.65 as compared to the previous close of Rs. 2808.45. The total number of shares traded during the day was 46008 in over 3544 trades.

The stock hit an intraday high of Rs. 2937.2 and intraday low of 2830. The net turnover during the day was Rs. 133332043.

Source : Equity Bulls

Keywords