Exports save the day for Bajaj Auto

The Bajaj Auto Ltd stock is down 12% from a year ago at a time the Nifty Auto rose 12%.

- Harsha Jethmalani

Uncertainty over rare earth minerals hurting prospects of its electric vehicles business, sluggish domestic demand and a lack of new launches are to be blamed. The rupee's depreciation benefitted the automaker's exports, but more favourable triggers are needed to reverse the stock's underperformance.

Against this backdrop, the results for the second quarter of the fiscal year 2026 (Q2FY26) had some bright spots. Still, overall, that may not be too exciting for investors.

Revenue increased by 14% year-onyear to ₹14,922 crore aided by doubledigit growth in exports-a strong show in premium motorcycles and threewheelers. Exports were slightly over 40% in sales volumes for Q2FY26.