Bajaj Auto, an Indian two and three-wheeler manufacturing company, was riding the bulls during Monday’s trading session after Maharashtra government removed the cap on the issue of taxi, autorickshaw permits.
Bajaj Auto hit a high of Rs 2,894 per share or 3.02% in early hours of trade on the NSE. The stock has delivered 10% returns in a period of one year and has outperformed the BSE Sensex and BSE Auto indices overt the same time period.
The stock witnessed a huge spurt in volume by more than 1.03 times. The stock had hit its 52-week high of Rs 3,122 per share on 8 September 2016 and hit its 52-week low of Rs 2,510 on 21 November 2016.
Bajaj Auto Limited is an India-based manufacturer of motorcycles, three-wheelers and parts. The Company's business segments include Automotive, Investments and Others. The Company's vehicles include two-wheelers and commercial vehicles.
Stock view:
Bajaj Auto Ltd is currently trading at Rs 2823, up by Rs 14.05 or 0.5% from its previous closing of Rs 2808.95 on the BSE.
The scrip opened at Rs 2848 and has touched a high and low of Rs 2889.5 and Rs 2821.25 respectively. So far 469714(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 81282.59 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 3122 on 09-Sep-2016 and a 52 week low of Rs 2510 on 15-Nov-2016. Last one week high and low of the scrip stood at Rs 2870 and Rs 2801 respectively.
The promoters holding in the company stood at 49.3 % while Institutions and Non-Institutions held 25.11 % and 25.59 % respectively.
The stock is currently trading below its 50 DMA.
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