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.

Bajaj Auto share price has seen a sharp fall recently as the auto stock plunged over 13% in one month. However, Bajaj Auto shares have rallied over 53% year-to-date (YTD) and has given multibagger returns of over 101% in the past one year.

The motorcycle maker Bajaj Auto's BAJA.NS shares dropped over 9 per cent on Thursday and looked set for their worst day since March 2020 after the company's weak outlook for overall motorcycle sales during the festive period.