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.

Shares of Indian motorcycle maker Bajaj Auto dropped nearly 8% on Thursday as analysts expressed concerns over the 'Pulsar' manufacturer's slowing domestic sales and a weak sales outlook

Motorcycle sales in the ongoing festive season so far are below expectations as demand is muted and the industry will be lucky if it sees 3-5 per cent growth compared to last year, Bajaj Auto Executive Director Rakesh Sharma said on Wednesday.

India's Bajaj Auto's shares tumbled 10% on Thursday after the motorcycle maker said it anticipated weak festive season sales, a warning that slammed other automakers and also weighed on the broader market.