Bajaj Auto Ltd Share Price – NSE /  BSE

Automobile, Mid Cap

The key equity indices traded with minor gains in a narrow range in early afternoon trade. The Nifty hovered above the 24,150 mark. Realty shares gained after declining in the previous trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex was up 112.15 points or 0.14% to 79,914.94. The Nifty 50 index added 56.65 points or 0.23% to 24,187.75.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.61% and the S&P BSE Small-Cap index rallied 0.70%.

The market breadth was strong. On the BSE, 2,372 shares rose and 1,541 shares fell. A total of 195 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.74% to 14.89. The Nifty 26 December 2024 futures were trading at 24,300.85, at a premium of 113.1 points as compared with the spot at 24,187.75.

The Nifty option chain for the 26 December 2024 expiry showed a maximum Call OI of 46.5 lakh contracts at the 25,000 strike price. Maximum Put OI of 56 lakh contracts was seen at 24,000 strike price.

Economy:

The HSBC India Manufacturing PMI showed a substantial improvement in the health of the sector during November, despite downward movements in most of its subcomponents. Positive demand trends contributed to sharp expansions in sales and output, though growth was somewhat restricted by competitive conditions and price pressures. The latest results showed that a quicker upturn in cost burdens sparked the steepest rise in selling prices in over 11 years

The seasonally adjusted HSBC India Manufacturing Purchasing Managers Index (PMI) fell from 57.5 in October to a joint 11-month low of 56.5 in November, signaling a softer improvement in the sector’s health. However, the pace of growth remained above its long-term average.

Pranjul Bhandari, Chief India Economist at HSBC, said: India recorded a 56.5 manufacturing PMI in November, down slightly from the prior month, but still firmly within expansionary territory. Strong broad-based international demand, evidenced by a four-month high in new export orders, fuelled the Indian manufacturing sector’s continued growth. At the same time, however, the rate of output expansion is decelerating due to intensifying price pressures. Input prices for a variety of intermediate goods — including chemicals, cotton, leather, and rubber — rose in November, while output prices soared to an eleven-year high as rising input, labour, and transportation costs were passed on to consumers.

Meanwhile, India's foreign exchange (forex) reserves fell for an eighth consecutive week to hit a multi-month low of USD 656.582 billion in the week that ended on November 22, data from the Reserve Bank of India (RBI) showed.

Buzzing Index:

The Nifty Realty index rose 1.65% to 1,036.95. The index shed 0.51% in the past trading session.

Phoenix Mills (up 3.41%), Macrotech Developers (up 2.98%), Godrej Properties (up 2.48%), Oberoi Realty (up 1.38%), DLF (up 0.54%), Brigade Enterprises (up 0.46%), Prestige Estates Projects (up 0.23%), and Mahindra Lifespace Developers (up 0.11%) advanced.

On the other hand, Sobha (down 1.32%) and Raymond (down 0.53%) edged lower.

Stocks in Spotlight:

Bajaj Auto rose 0.65% after the two-wheeler major reported a 5% increase in total auto sales to 4,21,640 units in November 2024 as against 4,03,003 units in November 2023.

Maruti Suzuki India added 2.27% after the company’s total sales rose 10.39% to 181,531 units in November 2024 as against 164,439 units sold in November 2023.

Hero Motocorp shed 0.29% after its total sales declined 6.36% to 459,805 units in November 2024 as compared with 491,050 units in November 2023.

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While the company’s domestic sales decreased 7% to 2,40,854 units, exports jumped by 24% to 1,80,786 units in November 2024 over November 2023.

Sales of two-wheelers and commercial vehicles stood at 3,68,076 units (up 5% YoY) and 53,564 units (down 1% YoY), respectively.

Bajaj Auto is engaged in the business of development, manufacturing, and distribution of automobiles such as motorcycles, commercial vehicles, electric two-wheelers, etc. and parts thereof.

The auto major’s standalone net profit increased 9.19% to Rs 2,005.04 crore on a 21.80% jump in revenue from operations to Rs 13,127.47 crore in Q2 FY25 over Q2 FY24.

Shares of Bajaj Auto rose 0.92% to Rs 9,114.45 on the BSE.

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Bajaj Auto sold 4,21,640 units in month of November 2024 compared to 4,03,003 units in November 2023, recording a growth of 5%.

Total sales include domestic sales of 2,40,854 units (lower by 7% YoY) and exports of 1,80,786 units (higher by 24% YoY).

During November 2024, the company sold 3,68,076 2-wheeler units (higher by 5% YoY) and 53,564 commercial vehicles (lower by 1% YoY).

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Bajaj Auto Ltd is up for a third straight session today. The stock is quoting at Rs 9666.05, up 1.57% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.25% on the day, quoting at 23745.85. The Sensex is at 78326.94, up 1.28%. Bajaj Auto Ltd has slipped around 7.95% in last one month.

Meanwhile, Nifty Auto index of which Bajaj Auto Ltd is a constituent, has slipped around 6.42% in last one month and is currently quoting at 23043.85, up 2.55% on the day. The volume in the stock stood at 1.95 lakh shares today, compared to the daily average of 6.77 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 9686.9, up 1.55% on the day. Bajaj Auto Ltd is up 71.08% in last one year as compared to a 20.57% jump in NIFTY and a 40.86% jump in the Nifty Auto index.

The PE of the stock is 32.47 based on TTM earnings ending September 24.

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