Why Bajaj Auto Shares Jumped Back In The Green Today

Shares of Bajaj Auto jumped back into the green in early trade on Thursday, breaking its two-day losing streak.

What Happened: The two-wheeler major reported its May sales number today. The company’s total sales for the month of May stood at 3,55,148 units, an 29% increase from the 2.75 lakh vehicles it sold last May. The company’s domestic sales went up a massive 103% to 2.28 lakh units as compared to 1.12 lakh units it sold in May 2022.

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The company’s export numbers remained weak as the automobile giant managed to sell 1.26 lakh units, down 23% from the 1.63 lakh units it sold in May 2022. Two-wheeler exports went down 26% to 1.12 lakh units as against 1.53 lakh units sold last May. However, export numbers for the company’s commercial vehicles went up 36% year-over-year to 13,862 units.

On a year-to-date basis, the company’s total sales stood at went up 17% to 6.86 lakh units from 5.86 lakh units it sold in the same period last year. Total exports for the period came in at 2.44 lakh units, down 34% from the year-ago period. Domestic sales grew by 106% year-on-year to 4.41 lakh units.

Price Action: Bajaj Auto’s share price was up 1.48% to trade at ₹4,634.95 shortly after the markets opened on Thursday.

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