Bajaj Auto shares fell over 4% today amid a rising market rally after reporting a 19.3% decline in sales in November. Bajaj Auto stock closed 4.12% down at Rs 3,595.50 on BSE as against its previous close of Rs 3,750.30. The large cap stock trades higher than the 200-day moving average but lower than the 5-day, 20-day, 50-day and 100-day moving averages.
A total of 7,206 shares of the firm changed hands, with a turnover of Rs 2.62 crore on BSE. Bajaj Auto’s market cap slipped by Rs 1.06 lakh crore. The stock is up 13 per cent in one year and is up 13 per cent this year. The large cap stock hit a 52-week high of Rs 4,130 on Sep 1, 2022 and a 52-week low of Rs 3,028.35 on Dec 20, 2021.
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Sales are expected to decline to 3.06 lakh units in November 2022 as against 3.79 lakh units in November 2021. The exports of the firm also declined by 30% to 1.53 lakh units last month as against 2.20 lakh units in the same month last year. Domestic sales are also expected to decline by 4% to 1.52 lakh units in November 2022 from 1.58 lakh units in November 2021.
Meanwhile, Sensex surged over 450 points to hit an all-time high of 63,583.07 and Nifty surged over 100 points to hit a new peak of 18,887.60.
