Bajaj Auto has struck over ₹1 trillion in market capitalisation and joined the elite club of companies.
After Maruti Suzuki India, Mahindra & Mahindra and Tata Motors, Bajaj is the fourth automobile company to have achieved the milestone.
The Bajaj Auto stock touched a record high of Rs 3,459.90 apiece on the BSE, with a market cap of Rs 1.01 trillion.
As per analysts, the firm has been witnessing steady recovery in sales triggered by a pick-up in consumer demand as the country gradually looks to come out of lockdown.
"Gradual restoration of supply chain and utilisation levels improving at its plants, we expect volumes to reach prior year levels, along with faster recovery expected in two wheelers," said Arihant Capital in a note.
Bajaj Auto has also signed a pact with the Maharashtra government to set up a Rs 650 crore manufacturing unit in Chakan. As per news source, the new plant will be for premium motorcycles and this shows optimism about the continued growth potential of this segment in India and overseas.
The plant, with a capacity to build up to a million motorcycles a year, would make premium motorcycles under the KTM, Husqvarna and Triumph brands along with electric scooters. The plant is scheduled to open by the second half of FY2022-23.
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