Bajaj Auto, one of the leading 2 and 3
wheeler makers, continues to fallafter JP Morgan downgraded the
stock to 'underweight' from 'neutral' and also cut its target price
to Rs 1,800 from Rs 2,060 earlier.
The company registered on Monday a fall of 3% in sales on
year-on-year basis to 332,387 units in February compared to 343,777
units. The sales of its motorcycles decreased 4% from a year ago to
291,297 units, while commercial vehicle sales were down 2% to
41,090 units. 
Shares ofthe companyare trading at Rs
1,962.30, down Rs 21.25, or 1.07% at the Bombay Stock Exchange
(BSE) on Tuesday at 11:38 a.m.The scrip has touched an intra-day
high of Rs 1,997.60 and low of Rs 1,944. The total volume of shares
traded at the BSE is 15,695.In the earlier session, the shares fell
1.97%, or Rs 39.9, at Rs 1,983.55. Currently, the stock is trading
down 11.96% from its 52-week high of Rs 2,228.95 and above 37.89%
over the 52-week low of Rs 1,423.10.
Post a Comment