Bajaj Auto fell 0.67% to Rs 2,804 at 9:50 IST on BSE after total sales dropped 7% to 3.07 lakh units in July 2017 over July 2016.
The announcement was made before market hours today, 2 August 2017.Meanwhile, the S&P BSE Sensex was up 31.87 points, or 0.10% to 32,607.04.
On the BSE, 1,940 shares were traded in the counter so far, compared with average daily volumes of 26,946 shares in the past one quarter. The stock had hit a high of Rs 2,815.90 and a low of Rs 2,795 so far during the day. The stock hit a record high of Rs 3,122 on 9 September 2016. The stock hit a 52-week low of Rs 2,510 on 15 November 2016.
The stock had underperformed the market over the past one month till 1 August 2017, rising 1.16% compared with 4.34% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.44% as against Sensex's 8.97% rise. The scrip had also underperformed the market in past one year, rising 2.71% as against Sensex's 16.42% rise.
The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.
Bajaj Auto said domestic sales fell 6% to 1.86 lakh units in July 2017 over July 2016. Exports fell 8% to 1.21 lakh units in July 2017 over July 2016.
Total motorcycle sales fell 7% to 2.65 lakh units in July 2017 over July 2016. Total commercial vehicles sales fell 4% to 42,545 lakh units in July 2017 over July 2016.
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On a consolidated basis, Bajaj Auto's net profit declined 19.52% to Rs 836.74 crore on 5.58% decline in net sales to Rs 5328.48 crore in Q1 June 2017 over Q1 June 2016.
Bajaj Auto manufactures motorcycles, three-wheelers and quadricycles. The company is the world's third largest motorcycle manufacturer and is the largest three wheeler and quadricycle manufacturer.
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