Bajaj Auto Shares Climb Even Though July Sales Miss Expectations

Shares of Bajaj Auto climbed up after a mute start on Monday as the company releases its sales data for the month of July.

What Happened: The company’s total sales for the month stood at 3.19 lakh units, down 10% from the 3.54 lakh units it sold in the same month last year. Domestic sales for the month stood at 1.79 lakh units, down 2% from the 1.82 lakh units it sold in July 2022. The sales number missed Nomura’s estimate of around 3.28 lakh units.

The auto giant’s exports remained dampened, as exports for the month stood at 1.40 lakh down 18% from 1.71 lakh units it sold in July 2022. The company’s two-wheeler sales also took a 15% hit at 2.68 lakh as compared to the 3.15 lakh units in July 2022.

However, the two-wheeler major’s commercial vehicles division saw sales grow by 29% to 50,907 units from 39,616 in July 2022. Domestic sales more than doubled at 37,273 units from 18,572 in the same month last year.

Price Action: Bajaj Auto’s share price was up 0.84% to trade at ₹4,973 in the early hours of trading on Tuesday.

Read Next: Why Maruti Suzuki Shares Are Down Today Even As Profits Surged 145% In Q1