Bajaj Auto rises 1.5% ahead of quarterly earnings

Bajaj Auto , the second largest two-wheeler producer in India, gained more than 1.5 percent in early trade on Wednesday ahead of its earnings for the third quarter of current financial year 2012-13.

Analysts on an average expect the company to report a net profit of Rs 842.7 crore, up 6 percent year-on-year, while revenue is seen up 8 percent at Rs 5,449.1 crore, according to a CNBC-Awaaz poll. It must be noted that Bajaj Auto had an exceptional loss of Rs 59 crore due to valuation losses on derivative hedging instruments in the year ago quarter.

At 10:09 hours IST, the stock rose 1.45 percent to Rs 2,145.95 on Bombay Stock Exchange.

In the previous trading session too, shares went up 1.07 percent to close at Rs 2,115.25.

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