Shares of Bajaj Auto have dipped 2.4% at Rs 2,128, its lowest level since August 2014 on the National Stock Exchange (NSE).

The stock of the country’s third largest two-wheeler maker has underperformed the market by falling 13% in past one month after reporting lower-than-expected vehicle sales for the month of January 2015. The CNX Nifty has declined about 1% during the period.

India’s third largest two-wheeler maker Bajaj Auto on Monday reported a 12% decline in total motorcycle sales in January at 246,955 units as against 281,390 units posted in the same month last year.

Exports grew 4% during the reporting month at 142,992 units as compared to 137,644 last January.

The half a dozen public interest suits filed in various courts across the country against the proposed launch of the four-wheeled transport vehicle called a quadricycle has been instigated, believes Pune-based Bajaj Auto.

Instigated, I think...I won’t like to say by whom, Kevin D’Sa, its president (finance) told analysts.

Bajaj Auto, the country’s third biggest two-wheeler maker, reported a five per cent decline in net profit for the December quarter, hit by falling demand for its motorcycle range in the domestic market.

The Pune-based company posted net profit of Rs 861 crore, against Rs 905 crore in the same quarter a year before. The profit, however, beat the market estimate of Bloomberg, which expected it to be Rs 836 crore.

Bajaj Auto on Friday reported 5.52 per cent decline in motorcycle sales to 2,46,233 units in December 2014.

The company had sold 2,60,645 motorcycle units in the year-ago period, Bajaj Auto Ltd. (BAL) said in a statement.

Markets are likely to open higher tracking gains in their Asian peers. However, some volatility may be expected later in the session as traders will remain cautious in a truncated week ahead of the F&O expiry on Wednesday.

For cues investors will also watch the US jobless data which is to be released later this week.

Bajaj Auto is trading higher by 2% at Rs 2,517 in early morning trades on BSE on after company has bagged an order for 1.25 lakh units of Discover-125M motorcycles from Sri Lankan government.

The company through its distributor David Pieris Motor Company in Sri Lanka had secured, after a detailed evaluation process by the Government of Sri Lanka, an order from them for supply of around 50,000 units of Discover-125M motorcycles, Bajaj Auto said in a statement.

Mumbai: Both the benchmark S&P BSE Sensex and CNX Nifty continued to rally for the second consecutive session on Friday led by gains in IT stocks after global rival Accenture Plc raised its revenue forecast, while Reliance Industries Ltd (RIL) rose on bets it will roll out its telecom services in the next few months.

The 30-share Sensex closed 0.9%, or 245.27 points, higher at 27,371.84, while the National Stock Exchange’s broader barometer 50-share Nifty rose 0.81%, or 65.90 points, to end at 8,225.20 points.

Bajaj Auto Ltd, India’s largest exporter of motorcycles and three-wheelers, has secured an order for 125,000 units of its Discover 125M motorcycle from the Sri Lankan government through its distributor, David Pieris Motor Co. Ltd, the company said in a filing to BSE on Friday.

This is a repeat order by the Sri Lankan government. Bajaj Auto had earlier secured an order for 50,000 units of the model. Of this, it has already supplied 48,000 units. The company expects to execute the fresh order over the next three to four months.

Despite hiccups, Bajaj Auto's yet another gamble with the Discover brand has paid off. Launched nearly four months ago, the stylish Discover 150 has become a runaway success for the Pune-based company, with customers lining up for an upgrade.

Being the fourth model under the Discover banner, the bike is the cheapest motorcycle in its class, and faces competition from five companies that share more than a dozen models between them.

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