Bajaj Auto shares drop 5% after 8% dip in October sales
Bajaj Auto's domestic sales fell to 3.03 lakh compared to 3.29 lakh in the same period last year; domestic two-wheeler sales also dipped by 8% to 2.55 lakh
Bajaj Auto's domestic sales fell to 3.03 lakh compared to 3.29 lakh in the same period last year; domestic two-wheeler sales also dipped by 8% to 2.55 lakh
The sentiment was dented after Bajaj Auto trimmed its growth outlook for 2W sales in India to 5%, at the lower end of its previous estimate of 5-8%.
The auto major’s profit and revenue grew 37% and 30%, respectively, in Q3 FY24, driven by strong growth in operating profit and surge in volume.
Bajaj Auto will buyback 40 lakh shares at ₹10,000 apiece, a 43.14% premium over yesterday’s closing price
The Bajaj Auto board will meet on January 8, 2024, to consider a fully paid-up equity shares buyback proposal
Bajaj Auto shares opened higher at ₹4,368.95, but soon slipped as much as 1.4% to ₹4,282.80 on the BSE.