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Bajaj Auto Shares Drop 4.8% as Domestic Sales Fall; Exports Surge 24% in October; Know Details

Bajaj Auto's shares dipped as October 2024 sales rose 2% year-on-year, driven by a 24% export surge, while domestic sales dropped 8%, marking strong wholesale dispatches to dealerships.
Bajaj Auto Shares Drop 4.8% as Domestic Sales Fall; Exports Surge 24% in October; Know Details

Bajaj Auto Ltd.’s shares declined during Monday’s morning trade as domestic sales dropped, while total sales recorded a slight increase due to robust exports in October 2024. The company achieved a record number of dispatches from its factory to dealerships, marking strong wholesale numbers.

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Total sales for October rose by 2% year-on-year to 4,79,707 units, up from 4,71,188 units in the same month last year. This modest growth was primarily driven by a 24% surge in exports, reaching 1,75,876 units. In contrast, domestic sales saw an 8% decline, falling to 3,03,831 units.

Sales of two-wheelers increased by 2% year-on-year to 4,14,372 units, while commercial vehicle sales rose by 4% to 65,335 units. Despite steady growth in exports and two-wheeler sales, the domestic market demand remained soft.

Rakesh Sharma, Bajaj Auto’s executive director, described October’s sales as a success despite slower sales leading up to Dussehra. He highlighted that the final weeks of the month saw significant improvement in retail performance.

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Shares of Bajaj Auto dropped as much as 4.81% to Rs 9,401 but later reduced losses, trading 3.87% lower at Rs 9,494.15. The stock’s 12-month gain stands at 75.59%, with Monday’s trading volume reaching twice its 30-day average and an RSI of 28.

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