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Bajaj Auto Shares Plunge 9% Despite Sales Growth: 5 Reasons for Sell-off and Brokerage Targets.
- •Bajaj Auto shares fell 9% to ₹9,952 on October 1st, a three-month low, despite a 5% increase in total sales.
- •Total sales reached 5.38 lakh units, up 5% year-on-year, but significantly below market expectations of 13% growth.
- •Domestic sales in India declined by 9%, with a notable 12% drop in two-wheeler domestic sales.
- •Exports grew by 32%, yet the market anticipated stronger international sales, contributing to pressure on overall figures.
- •Year-on-year growth slowed to 5% in September, compared to 28% in August, dampening expectations for sustained rapid growth.
Key Questions Answered
Bajaj Auto shares fell by about 9% to a three-month low of 9,952 rupees on October 1, 2026, because overall sales growth of 5% missed analysts' expected 13% growth. Additionally, domestic sales dropped by 9% and exports fell short of strong market expectations.
Company domestic sales declined by 9%, while domestic two-wheeler sales saw a steeper drop of 12%, falling below 2.4 lakh units. This domestic weakness heavily weighed on the overall sales figures and market sentiment.
Before the September sales release, Anand Rathi set a target of 12,800 rupees with a buy rating. ICICI Direct recommended a target of 12,550 rupees, and Bank of America (BofA) projected a target of 13,700 rupees, citing strengths in exports, electric vehicles, and new models.
