Bajaj Auto surges to lifetime high

Bajaj Auto is trading at its lifetime high market price, up 4% at Rs 1,962 on targeting 40% sales growth in next fiscal.

According to reports, the second largest motorcycle maker in the country plans to sell 4 million units in next fiscal, a growth of nearly 40%. The company plans to raise its capacity by 25% to 5 million units in the next one year, to meet this target.

In February, the company’s motorcycle sales rose 78% to 234,000 units, while three-wheeler sales went up 59% to 33,968 units over the same month last year.

The stock opened at Rs 1,888, and is currently trading at day’s high level on the BSE. Around 30,000 equity shares have changed hands on the counter so far.