Bajaj Auto hits two month high; stock surges 11% in 6 days

Shares of Bajaj Auto hit a two month high of Rs 3,029 per share, up 2% on the BSE in early morning trade, extending their 9% rally in the past five days after reporting a healthy volume performance during the month of June 2018. The stock was trading at its highest level since May 2, 2018.
Bajaj Auto on Monday, said that its total sales grew 65% YoY at 404,429 units in June 2018, due to strong domestic performance in two-wheeler (2W) and three-wheeler (3W) segment led by new launches and healthy export 3W sales.

The company’s commercial vehicles (CV) segment reported highest ever monthly sales of 66,677 units up 66% over the previous year.

“CV segment is expected to continue momentum of volume growth. Major growth is expected to come from Maharashtra, Telangana, Karnataka, Andhra Pradesh and Delhi. Most of the heavy demand witnessed in Q4FY18 from Maharashtra were from Mumbai, whereas the growth from other parts are expected to come in FY19,” analysts at Dolat Capital Stock Market said in recent report.