Bajaj Auto becomes most valuable bike-maker, pips Eicher Motors

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.