Bajaj Auto on Friday said it has become the first two-wheeler company globally to cross a market capitalisation of Rs 1 lakh crore (around USD 13.6 billion). This market valuation is considerably higher than all other domestic two-wheeler companies, Bajaj Auto said in a statement. As per analysts, a market capitalisation of over Rs 1 lakh crore has not been achieved before by any international two-wheeler company anywhere in the world, it added.
The company’s share closed at Rs 3,479 on NSE on Friday, giving it a market capitalisation Rs 1,00,670.76 crore.
Bajaj Auto has achieved this milestone as it celebrates the 75th year of its operations, it said.
“The company’s sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe.” Bajaj Auto Managing Director Rajiv Bajaj said.
Bajaj Auto has its manufacturing facilities at Chakan near Pune, Waluj (Aurangabad), and Pantnagar (Uttrakhand). It recently announced the setting up of its fourth plant at Chakan at an investment of Rs 650 crore for manufacturing premium segment bikes and electric two-wheelers.
In related news, Bajaj Auto on Monday reported an 11 percent increase in total sales at 3,72,532 units in December 2020. The firm had sold a total of 3,36,055 units in December 2019, Bajaj Auto said in a statement.
Domestic sales were down 9 percent at 1,39,606 units as compared to 1,53,163 units in the year-ago month, it added.
Total motorcycle sales were at 3,38,584 units last month as against 2,84,802 units in December 2019, up 19 percent, it added. Exports jumped 27 percent to 2,32,926 units as compared to 1,82,892 units in the same month a year ago, Bajaj Auto said.
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