Bajaj Auto crosses Rs 1 lakh crore market cap

Mumbai: Bajaj Auto on Friday crossed the market capitalisation of Rs 1 lakh crore after its inventory closed 1% increased at Rs 3,482.eight per share.

With this, the corporate laid declare to changing into the primary two-wheeler firm to succeed in this milestone in addition to being essentially the most useful two-wheeler maker on this planet.

“This market cap is considerably higher than all other domestic two-wheeler companies. As per analysts, a market capitalization of over (Rs 1 lakh crore) has not been achieved before by any international two-wheeler company anywhere in the world,” the corporate mentioned in a press assertion.

Bajaj Auto’s inventory has gained over 21% up to now six months on the BSE after its exports recovered sharply from the influence of the Covid-19 pandemic.

The firm final week introduced that it was investing Rs 650 crore to arrange a producing facility at Chakan with an annual capability of rolling out 1 million two-wheelers. The new plant will concentrate on high-margin premium bikes and electrical two-wheelers, the corporate mentioned.

“The company’s sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM (Total Productive Maintenance) combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe,” mentioned Rajiv Bajaj, managing director of Bajaj Auto.