CapitalMarket.com - Bajaj Auto slips on profit booking
Hot Pursuit Friday, June 08, 2012 14:50 Hrs IST

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Bajaj Auto slips on profit booking

Bajaj Auto fell 1.29% to Rs 1,525.15 at 14:49 IST on BSE, with the stock sliding on profit booking after 3-day 3.58% gains.

Meanwhile, the BSE Sensex was down 44.52 points or 0.27% to 16,604.53.

On BSE, 59,000 shares were traded in the counter as against average daily volume of 38,892 shares in the past one quarter.

The stock hit a high of Rs 1,538 and a low of Rs 1,515.75 so far during the day. The stock had hit a record high of Rs 1,839 on 29 February 2012. The stock had hit a 52-week low of Rs 1,293.25 on 20 June 2011.

The large-cap stock had outperformed the market over the past one month till 7 June 2012, rising 1.96% compared with the Sensex's 1.56% fall. The scrip had, however, underperformed the market in past one quarter, declining 10.72% as against Sensex's 2.9% decline.

The auto firm has an equity capital of Rs 289.37 crore. Face value per share is Rs 10.

The Bajaj Auto stock had risen 3.58% in three trading sessions to settle at Rs 1,545.10 on Thursday, 7 June 2012 from Rs 1,491.60 on 4 June 2012.

Bajaj Auto early this week said its total sales fell 2% to 3,52,219 units in May 2012 over May 2011, as exports to Sri Lanka were nil in May 2012 against a typical monthly average of 10,000 motorcycles and 3-wheelers each per month. The company expects recovery in Sri Lankan exports from July 2012 onwards. The company's exports rose 3% to 1,30,573 units in May 2012 over May 2011.

Bajaj Auto's net profit fell 44.9% to Rs 772 crore on 12% growth in net sales to Rs 4515.55 crore in Q4 March 2012 over Q4 March 2011.

Bajaj Auto is the world's third largest manufacturer of motorcycles.

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