What’s Pulling The Shares Of Bajaj Auto Lower Today?

Shares in Bajaj Auto were trading lower, despite the Sensex surging 300 points in trade. Slightly weaker than expected sales numbers resulted in a weakness in the counter.

Bajaj Auto on Tuesday reported 3.1 cent decline in total sales at 3,94,473 units in January.

The firm had sold a total of 4,07,150 units in January 2019, Bajaj Auto said in a statement.

Total domestic sales were down 16.6 per cent at 1,92,872 units as compared to 2,31,461 units in the year-ago month, it added.

The two-wheeler sales in domestic market were at 1,57,796 units last month against 203,358 units in January 2019, down 22.4 per cent. However, most analysts are upbeat on the stock and see a good recovery over the coming months. Apart from this, there is a high possibility that numbers may be very good in the coming months.