Bajaj Auto Falls 3% on Weak November Sales

Shares in Bajaj Auto fell over 3 per cent to a day low of Rs 2,555.7 on Tuesday as the company reported weak auto sales for the month of November, 2014.

Motorcycle sales of the company fell 6 per cent year-on-year to 2.62 lakh units in the month of November, 2014 against 2.79 lakh units in the same period last year.

However commercial vehicle sales and exports of the company witnessed year-on-year jump due to which its total sales remained flat year-on-year. Total sales of the company came in at 3.09 lakh units against 3.11 lakh units last year.

Nomura had estimated its total sales at 3.6 lakh for the month of November 2014.

Shares in Bajaj Auto ended 1.1 per cent lower at Rs 2,607.80 apiece, against 0.36 per cent fall in the broader Nifty.