Bajaj Auto, Hero MotoCorp report weak sales numbers for September
03 October 2012
Shares of Bajaj Auto and Hero MotoCorp fell in morning trade on the Bombay Stock Exchange (BSE) today after they reported weak sales numbers for September.
At 10:15 am, Bajaj Auto was trading 1.1 per cent lower at Rs1,792. The scrip hit a low of Rs1,791.30 and a high of Rs1,817 in the day.
Hero MotoCorp was trading 1.4 per cent lower at Rs1,854, after hitting a low of Rs1,844.15 and a high of Rs1,871.30 in the day.
The company reported low volumes for September 2012 as total volumes fell 26.4 per cent year-on-year and 8.8 per cent sequentially to 404,787 units.
Volumes for Bajaj Auto for September 2012 declined 13.8 per cent year-on-year to 360,152 units.
Motorcycle volumes declined 15.1 per cent on weak domestic demand, while three-wheeler volumes retreated 3.5 per cent, mainly due to weakness in the export markets.