Bajaj Auto shares decline for the third consecutive day due to profit taking, even after a 22% increase in sales for September. In terms of commercial vehicles, Bajaj Auto sold 52,554 units, showing a slight rise of only 4 percent compared to the 50,683 vehicles sold in September 2023. Bajaj Auto shares have surged nearly 80 percent since the beginning of the year. On October 1, shares of Bajaj Auto Limited fell by 2 percent to Rs 803,112 each during afternoon trading, marking a third consecutive session in which they remained in the negative as investors took some profits. This announcement comes just hours after the two- and three-wheeler manufacturer revealed its September sales figures. The company’s total units sold for the month reached 4,230,217, including exports, representing a 22 percent rise compared to the same period last year. The Pune-based company sold 212,2205,21.3 units in the domestic market, and its export numbers reached 2003,2200,20 units. Stay updated with our LIVE blog for the latest market news. Regarding domestic commercial vehicles (CV), Bajaj Auto sold 280,554 units, reflecting a slight increase of only 4 percent compared to the 50,683 vehicles sold in September 2023. CV exports experienced a solid growth of 16 percent, with the company shipping 3,488 vehicles compared to 14,163 units in the same month the previous year. On September 30, UBS issued a ‘Sell’ recommendation for the stock due to a weak festive season and the unfavorable period known as ‘Shradh Paksha’ from September 17 to October 2. Additionally, Sebi is expected to announce F&O measures soon via a draft circular. UBS indicates that substantial discounts in the two-wheeler sector on e-commerce sites are anticipated to continue during the festive season.
