Bajaj Auto dips post December sales

The stock was down 2% to Rs 2,581, falling 3% from early morning high on the BSE

Bajaj Auto was down 2% to Rs 2,581, falling 3% from early morning high on the BSE after the company 22% decline in total sales in December at 225,529 units as against 289,003 units in the same month last year.

Motorcycle sales, which contributed 90% of total sales, during the month fell by 18% to 203,312 units as against 247,782 units in December last year, the company said in a BSE filing.

The two-three wheelers maker had reported a 13% decline in total sales in November at 269,948 units as against 309,673 units in the same month last year.

On cumulative basis, total sales during first nine months (April to December) of the financial year 2016-17 declined by 5% to 2,878,323 units as compared to 3,021,123 units in the same period last fiscal.

At 09:28 am; the stock was trading 1% lower at Rs 2,605 after hitting an intra-day high of Rs 2,658 on the BSE. The S&P BSE Sensex was down 0.25% at 26,559.