NIFTY 50

This auto stock could be a beneficiary of oil price hike

Updated : December 01, 2020 10:39:07 IST

Two and three-wheeler manufacturer Bajaj Auto on Tuesday reported a 5 percent rise in total sales for the month of November at 422,240 units as compared to 403,223 units in the same month last year.

The company’s total domestic sales in November declined 4 percent to 198,933 units from 207,775 units while exports rose 14 percent to 223,307 units from 195,448 units, YoY.

The stock could be a beneficiary of oil price hike as the company exports to oil facing economies like Egypt and Nigeria. The oil prices are up 25 percent in the month of November.

At 10:15 am, the shares of Bajaj Auto were trading 1.21 percent higher at Rs 3,211.10 on the BSE.

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