Bajaj Auto zooms up on July sales numbers

DALAL STREET SPIKES

July sale numbers gave a fillip to auto stocks which were back in the limelight in Monday's trading. Shares of the two-wheeler major Bajaj Auto surged 3.72 per cent to Rs 852.70 after the company said it sold 103,260 motorcycles in July 2004, up 32.4 per cent from 77,966 units a year ago.

Its total two-wheeler sales, including scooters, rose 18.7 per cent to 120,092 units, while sales of three-wheelers grew 10 per cent to 21,651 units.

Total sales were up 17.3 per cent to 141,743 vehicles. According to sector analysts, along with the strong sales numbers for the month ended July, it is the revival of monsoon which has resulted in renewed buying.

As far as sales numbers are concerned, they were factored in the share price. Bajaj Auto on Saturday announced its June quarter results, registering a 2 per cent jump in net profit to Rs 164.55 crore as against Rs 161.06 crore on total income of Rs 1,332.56 crore as against Rs 1,183.91 crore during the same period.