Published on 16 Oct 2024 on Reuters · via Yahoo Finance
India's Bajaj Auto slumps 12% on festive sales caution, drags broader market
(Reuters) - Bajaj Auto's shares tumbled 12% on Thursday after the Indian motorcycle maker said it anticipated weak festive season sales, a warning that slammed other automakers and also pulled down the broader market.
India's third-biggest motorcycle maker by sales said festive sales of motorcycles had grown only about 1%-2% so far this month, falling short of market expectations of 5%-6%.