Shares of Bajaj Auto fell sharply on June 1 in the morning trade after the company reported lower-than-expected sales data for May.

Bajaj Auto sold 2.75 lakh units in May, which was below the industry estimate of 3.12 lakh

Weak exports muted performance in the month. The company exported 1.53 lakh units of 2-wheelers and 10,163 three-wheelers in May 2022.

Overall exports during May plummeted 22 percent on a year-on-year basis for Bajaj Auto, while domestic sales rose 85 percent.