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Bajaj Auto said the margin in Q2 was driven by better realisation and a richer product mix, which more than covered the drag arising from investments on growing electric scooters.
Thus far in the calendar year 2023, the stock price of Bajaj Auto has appreciated by 41%, as compared to a 10.7% rise in the S&P BSE Sensex and a 27.7 per cent surge in the S&P BSE Auto index
Tata Motors, Mahindra & Mahindra and Ashok Leyland fell 2.19 per cent, 1.55 per cent and 2.68 per cent, respectively
The stock of automobile major quoted higher for the fourth straight day, surging 6 per cent during the period
Analysts believe the auto segment is expected to drive its operating performance in the coming years due to increasing volumes going ahead
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Thus far in the current financial year 2023-24, the stock has zoomed 161 per cent, as compared to 11.6 per cent rise in the S&P BSE Sensex.
In an exchange filing, the company said that it would start production of the Harley Davidson X440 in September 2023 and commence deliveries from October onwards
In the recently concluded quarter, the company's consolidated revenue rose 19 per cent YoY to Rs 33,892 crore
The company's net profit jumped 50 per cent YoY to Rs 918 crore, its highest-ever quarterly profit; backed by a 17 per cent growth in revenue at Rs 3,986 crore.
With further advancement of monsoon across the country, adequate reservoir levels, better liquidity, and consumer credit availability, the management expects the demand momentum to improve.
On the bourses, shares of Maruti Suzuki surged 16 per cent so far this calendar year (CY23), as against a 9 per cent jump in the S&P BSE Sensex
The company said it may consider further investment, subject to pricing, regulatory approvals, and required procedures, however, in no circumstance will it exceed 9.9 per cent.
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The board of the automotive major approved a scheme whereby 7 ordinary shares of the company will be issued for every 10 A-shares held, and all its outstanding A-shares will stand cancelled.
So far this calendar year (CY23), shares of Bajaj Auto rose 34 per cent, as against 9.6 per cent gain in the S&P BSE Sensex, during the same period
In past three months, the stock price of the company has more-than-doubled or zoomed 123 per cent, as compared to 11 per cent rise in the S&P BSE Sensex.
The company said its board will meet on August 8, 2023 to consider sub-division/splitting its existing equity shares
According to media reports, Clarios ARBL Holding was to sell its entire 14 per cent stake in the company though bulk-block deal mechanisms on stock exchanges at a floor price of Rs 651 per share.