Bajaj Auto trades in green despite reporting drop in April 2014 sales

Bajaj Auto is currently trading at Rs 1925.00, up by 11.55 points or 0.60% from its previous closing of Rs. 1913.45 on the BSE. The scrip opened at Rs. 1915.00 and has touched a high and low of Rs. 1927.90 and Rs. 1913.00 respectively. So far 2754 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2193.85 on 17-Oct-2013 and a 52 week low of Rs. 1683.35 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs 2002.00 and Rs 1902.00 respectively. The current market cap of the company is Rs 55703.15 crore. The promoters holding in the company stood at 50.02%, while Institutions and Non-Institutions held 25.68% and 24.30% respectively. Bajaj Auto, the second-largest motorcycle manufacturer has registered a 4% drop in total sales to 331,529 units in April 2014 against 344,178 units in April 2013. The sales of the motorcycles decreased by 0.39% and stood at 299,636 units in the month under review against 300,827 units in April 2013. The company has reported a 26% drop in Commercial Vehicles sales which stood at 31,893 units as compared to 43,351 units in month of April 2013. Meanwhile, the company’s total exports out of the above stood at 150,714 units, an increase of 16% as compared to 130,329 units sold in the corresponding month last year. Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.