Shares of Bajaj Auto Ltd. experienced a significant slump in early trading on Thursday, falling over 7% after the company released its monthly sales figures for September 2026. The two-wheeler manufacturer's stock hit a day's low of Rs 10,060 on the BSE, down 7.37% from its previous close of Rs 10,860.
Domestic Sales Decline Impacts Sentiment
The sharp decline in share price was primarily driven by a 12% year-on-year (YoY) drop in domestic two-wheeler sales. According to an exchange filing, Bajaj Auto sold 239,771 two-wheelers in the domestic market during September 2026, a notable decrease compared to 273,188 units sold in September 2025.
Despite the domestic slowdown, the company saw a robust performance in its export segment. Exports surged by 34% YoY to 211,723 units in September 2026. Consequently, Bajaj Auto's total two-wheeler sales (combining domestic and exports) recorded a 5% YoY increase, reaching 538,443 units for the month. For the first half of the fiscal year (April-September FY27), total sales climbed 24% YoY to 2,987,135 units.
Future Outlook and Electric Vehicle Plans
Looking ahead, Bajaj Auto is actively developing an electric motorcycle, with a launch anticipated in FY28. Chief Financial Officer Dinesh Thapar indicated during a recent media conference call that the company plans to prioritize exports for its initial electric motorcycle offerings. The Pune-based automaker is also working on electrifying its popular Pulsar and Boxer motorcycle platforms.
Analyst Views and Support Levels
Market analysts are closely watching Bajaj Auto's performance. Gaurav Bissa, Senior Vice-President at InCred Capital, suggested that further pressure on the stock could be imminent. "Rs 10,000 is an immediate support level for Bajaj Auto. If the stock slips below this level, then it may slip towards Rs 9,500-9,400 levels," Bissa told Business Today Television.
The company had previously reported strong Q1 earnings, maintaining healthy margins despite rising input costs. Following these results, several brokerages had issued varying ratings, from 'Buy' (Goldman Sachs, Bernstein, Nomura) to 'Hold' (HSBC, Jefferies, BNP Paribas) and 'Sell' (UBS, Citi, Morgan Stanley).