Shares of three two-wheeler makers rose by 1.53% to 2.96% at 11:58 IST on BSE after Bajaj Auto reported better-than-expected Q2 September 2013 results.
Hero MotoCorp (up 1.53%), Bajaj Auto (up 2.39%) and TVS Motor Company (up 2.96%), edged higher.
The BSE Sensex was down 4.48 points, or 0.02% at 20,543.14.
Hero MotoCorp had underperformed the market over the past one month till 15 October 2013, falling 0.18% compared with the Sensex's 4.13% rise. The scrip had, however, outperformed the market in past one quarter, rising 18.64% as against Sensex's 2.56% rise.
Bajaj Auto had outperformed the market over the past one month till 15 October 2013, rising 6% compared with the Sensex's 4.13% rise. The scrip had also outperformed the market in past one quarter, rising 11.72% as against Sensex's 2.56% rise.
TVS Motor Company had outperformed the market over the past one month till 15 October 2013, rising 37.13% compared with the Sensex's 4.13% rise. The scrip had also outperformed the market in past one quarter, gaining 35.44% as against Sensex's 2.56% rise.
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Bajaj Auto's net profit rose 13% to Rs 837 crore on 3% rise in turnover to Rs 5299 crore in Q2 September 2013 over Q2 September 2012. The company announced Q2 result on Wednesday, 16 October 2013. The net profit of Rs 837 crore is the highest ever quarterly profit recorded by the firm so far. The company recorded an all time high operating EBITDA (earnings before interest, taxation, depreciation and amortization) of Rs 1204 crore in Q2 September 2013. The EBITDA is calculated before taking into account mark-to-market foreign exchange loss, Bajaj Auto said. EBITDA margin edged up to 23.1% in Q2 September 2013 from 21.3% in Q1 June 2013 and 18.7% in Q2 September 2012.
Hero MotoCorp announces Q2 September 2013 results on 23 October 2013.
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