Two-and-three-wheeler maker Bajaj Auto said it sold 4.63 lakh units in October 2019, 9 percent fewer than in it did in the same period last year, due to slower domestic business. It had sold 5.06 lakh units in October 2018.
The October numbers, however, beat estimates. Japanese brokerage Nomura's expectations was of 4.36 lakh units.
Month-on-month, sales increased 15.2 percent due to festival season and higher discounts.
Domestic sales declined 13 percent year-on-year to 2.78 lakh units, while exports fell 1 percent to 1.84 lakh units, the company said in a BSE filing.
Motorcycle sales in October stood at 3.99 lakh units, lower by 8 percent YoY, and three-wheeler sales dropped 13 percent to 64,295 units compared to the same month last year.
The stock was quoting at Rs 3,257.20, up Rs 10.45, or 0.32 percent, on the BSE at 0938 hours after hitting a record high of Rs 3,289.50 intraday.
In the last three months, especially after government measures and heavy discounts, the stock has gained around 30 percent.
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