With a market capitalization of Rs 131,856 crores, the stocks of Bajaj Auto Limited are currently trading at Rs 4,660 gaining 2 percent as compared to the previous closing levels of Rs 4,567.15.
The scrip witnessed an intra-day high of Rs 4670.35 which also becomes the all-time high mark for the company. The stock has shown steady growth gaining around 30 percent during the year-to-date (YTD) period.
One of the probable reasons for the stock prices to increase today is after the company, through a regulatory filing with the BSE, provided updates with respect to the company’s Auto sales in May 2023 v/s in May 2022.
Having a look at the domestic sales numbers of 2-wheelers, the company has been successful in increasing the same from 96,102 units during May 2022 to 1,94,811 units in May 2023 exhibiting an increase of 103 percent.
In addition to the above, the domestic sales numbers of commercial vehicles, during the same period, improved from 16,206 units to 33,590 units representing an increase of 107 percent.
On the contrary, the total exports, due to the recessionary pressure in the global economy, reduced from 1,63,560 units to 1,26,747 units indicating a decline of 23 percent.
Bajaj Auto Limited is a company based in India that is engaged in developing, manufacturing, and distributing automobiles such as commercial vehicles, motorcycles, electric two-wheelers, etc. The Company sells its products in India and in various other markets globally.
The latest annual report released by the company showcases an increase in operating revenue from Rs 33,145 crores in FY21-22 to Rs 36,455 crores in FY22-23. Moreover, the company’s net profits, keeping the timeframe the same, moved from Rs 6,166 crores to Rs 6,060 crores.
As per the latest shareholding data available for the March 2023 quarter, Promoters of the company hold a 54.98 percent stake, and Foreign Institutional Investors (FIIs) hold a 12.35 percent stake in the company.
Written by Amit Madnani
