The shares of this automobile reached a 52-week high of Rs 5,945.80 apiece after the company planned to launch a new model next month with a capacity of up to 20,000 units per month.
With a market capitalization of Rs 1,67,513.59 Crores. Bajaj Auto Ltd, On Thursday, The shares were trading at Rs 5,920.10 a share, an increase of 2.86 percent from the previous closing price.
According to the brokerage firm Morgan Stanley, Bajaj Auto Ltd planned to launch a new model next month with a capacity of up to 20,000 units per month. The brokerage also stated that the Chetak EV is rapidly increasing in popularity and has already risen to the third position among E-three-wheelers.
“The electric avatar Chetak is back.” As you are aware, Bajaj Auto Ltd is the biggest exporter out of India. The three-wheeler is again on the back of CNG, and the electric three-wheelers are doing incredibly well right now. Finally, exports have somewhat decreased but are gradually increasing,” Rajiv Bajaj stated on Wednesday.
Looking into the company’s finances, Bajaj Auto Ltd’s revenue increased by 6.22 percent from Rs 10,202.71 Crore in Q2FY23 to Rs 10,838.24 Crore in Q2FY24. During the same period, net profits increased by 20 percent from Rs 1,521.31 crore to Rs 1,836.4 crore.
The stock has delivered a return of 31.15 percent in six months and 64.23 percent in a year.
Bajaj Auto Ltd’s recent shareholding pattern, The Promoters of The company own 54.98 percent while Retail shareholders own 21.54 percent stake in the company and Foreign Institutional Investors own 14.3 percent stake.
Bajaj Group is a manufacturer of two- and three-wheelers that ships its products to 79 nations in Southeast Asia and Latin America.
Written by:- Abhishek Singh
