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Journalism of Courage
Shares of two-wheeler makers Bajaj Auto and TVS Motor came under heavy selling pressure on Monday,as the market was disappointed by their monthly sales figures.
Bajaj Auto’s share price slipped by 7.40 per cent to close at Rs 1,475 on the BSE,while that of TVS Motor fell 7.32 per cent to settle at Rs 48.10.
Bajaj Auto reported a 8.22 per cent increase in its motorcycle sales for December 2011 at 2,63,699 units,while TVS’s total vehicle sales declined marginally to 1,70,428 units during the month.
“Monthly sales figures of auto companies influenced the market sentiments today. Below-expected sales numbers of Bajaj Auto and TVS Motor saw both the counters witnessing sharp cuts,” Shanu Goel of Bonanza Portfolio said.
However,shares of Maruti Suzuki rose 1.82 per cent,even as the carmaker’s sales declined by 7.1 per cent during the month to 92,161 units.
The BSE barometer Sensex ended 63 points higher amid a choppy trade on the first day of trade in the new year.
