Quote on Monthly Update: Bajaj Auto Ltd by Mr. Milan Desai, Angel Broking
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Below is quote on Monthly Update: Bajaj Auto by Mr. Milan Desai, Lead Equity Analyst, Angel Broking
Bajaj Auto reported total monthly sales of 3,73,270 units for Jun’21, up by 1.1% MoM led by a good 3.2% MoM increase in domestic sales. Within Domestic, motorcycles grew at 1.1% MoM while Domestic CVs (3Ws) grew 32.5% MoM. Exports at -0.6% MoM were pulled down by a 26% MoM decline in export 3Ws while motorcycles exports were up 3.4% MoM. Overall we believe that the domestic motorcycle growth numbers are in line with expectations. Bajaj is well placed in terms of strong exports momentum and domestic growth on account of new launches.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
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