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Results▼ Bearish for Bajaj Auto
Auto stocks slide after weak September sales; Bajaj Auto falls as much as 8%
The brief
- Nifty Auto fell 3% to 25,507, a more than four-month low
- Bajaj Auto sold 5,38,443 units in September, up 5% year on year
- M&M hit a 52-week low; Hyundai gained
- Weak sales sentiment weighs on Bajaj Auto, M&M and other automakers
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September vehicle sales and auto stocks
Indian automakers reported higher September sales, with Mahindra & Mahindra selling 1,14,874 vehicles, up 15% year on year, and Bajaj Auto selling 5,38,443 units, up 5%. Despite higher sales at several companies, the Nifty Auto fell 3% to 25,507 as shares including Bajaj Auto declined.
Thursday, 1 October
- Auto stocks slide after weak September sales; Bajaj Auto falls as much as 8%