Royal Enfield had overtaken Bajaj Auto in August after domestic and export volumes of the maker of Pulsar and Avenger bikes came under sustained pressure
Motorcycle specialist Bajaj Auto has regained the top position in market capitalisation from Eicher Motors and extended lead over Hero MotoCorp, which had also overtaken the Pune-based company in August.
Bajaj’s market cap was at Rs 91,497 crore today at the time of writing this article whereas market cap of Eicher Motors, which owns Royal Enfield, stood at Rs 84,406 crore. Delhi-based Hero MotoCorp’s market cap stood at Rs 75,086 crore on the BSE.
Royal Enfield had overtaken Bajaj Auto in August after domestic and export volumes of the maker of Pulsar and Avenger bikes came under sustained pressure. During the same month Hero, too, overtook Bajaj pushing the company to the third spot.
On the back of a robust 14 percent rise in volumes last month to 4.28 lakh, which is the highest ever for Bajaj Auto in a month, its stock has moved from Rs 3,025 to Rs 3,184 during the last five days on the Bombay Stock Exchange (BSE).
Despite Hero claiming to clock over 1 million in retail sales during the festive days its wholesale sales recorded a growth of under 7 percent to 7.2 lakh last month compared to 6.74 lakh sold in same month last year.
This led to a flattish trend of the Hero stock movement during the last five trading sessions on the BSE. On September 28, Hero stock closed at Rs 3,744 while it was trading at Rs 3776 today. Honda, the second largest two-wheeler maker in India, also clocked retail sales of over 1 million units during the festive days and over 6 lakh in wholesale sales last month.
Royal Enfield recorded a sales increase of 22 percent last month to 70,431 units as against 57,842 units sold in the same month last year. Eicher’s stock jumped 2.3 percent during the last five trading sessions on the back of strong sales in September. Royal Enfield’s growth is despite an increase of 3 percent in cess resulting in price increase of around Rs 2,000.Bajaj’s domestic motorcycle volumes grew by 7 percent to 247,418 units while exports jumped by 20 percent to 122,260 units during last month. Total commercial vehicles volumes grew by 32 percent to 59,074 units during the same month. The company is the third largest manufacturer of two-wheelers in the country.The Great Diwali Discount!
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