Bajaj Auto hits new high on September sales numbers
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Bajaj Auto hits a new high of Rs 3,208, up 3% on BSE after the company reported a highest ever total sales of 428,752 units in September against 376,765 units sold in the same month last year. The company recorded sales growth of 14% in September, its highest monthly sales growth rate since March 2016.
Bajaj Auto’s commercial vehicles sales were up 32% at 59,074 units as against 44,789 in the corresponding month last year. Motorcycle sales were at 369,678 units as against 331,976 in the year-ago month, up 11%, the company said in a statement.
Overall exports in September grew 21% at 146,973 units as against 121,173 in the same month last year, it added.
Since its recent low of Rs 2,732 on August 29, 2017, the stock outperformed the market by surging 17% against a marginal 0.36% rise in the S&P BSE Sensex. Thus far in the calendar year 2017, it rallied 22% against 18% rise in the benchmark index.
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Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
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Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
The maker of Maggi noodles, Nescafe coffee and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4 per cent and a moderate increase in underlying trading profit margin.
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Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
Hitachi Energy intends to establish additional global capability centres (GCCs) in India to bolster its local operations in response to escalating energy demand and the government's focus on expanding renewable energy generation, according to Reuters.
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Air India Express will give first-time voters aged 18 to 22 a 19 per cent discount on domestic and international flight tickets for travelling to their home constituencies and back, the Economic Times (ET) reported.
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National Stock Exchange (NSE) on Wednesday introduced derivative contracts on Nifty Next 50 index, which received a positive response from market participants.
More than 375 trading members from across the country participated in the index derivatives, the National Stock Exchange (NSE) said in a statement.
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