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<ul><li>The world's most valuable two-wheeler company <keyword id="6359783" type="ORGANIZATION" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> is slated to report its third-quarterly earnings tomorrow. </li><li>The top brokerages expect the company to lose margin as three-wheeler sales have been tepid in the Oct-Dec quarter.</li><li>Meanwhile, the stock has jumped 28% since Sep-end and the market capitalization crossed the ₹1 trillion mark in Dec on the Indian stock exchanges. </li><li><a href="https://www.businessinsider.in/budget">Check out the latest stories on Business Insider</a>. </li></ul>Bajaj Auto, the world's most valuable two-wheeler maker, has already reported the number of vehicles it sold in the October-December quarter. Investors are now waiting to see how much profit it made from those sales. Analysts fear the margin may get squeezed by high raw material cost and the discounts offered in the last couple of months. While the company may be more popular for its Pulsar model of motorbikes, Bajaj Auto makes a much bigger profit margin on every auto-rickshaw that it sells. The three wheeler sales haven’t recovered yet. “Volumes increased by 9% YoY primarily led by 26% YoY increase in export motorcycle volumes offset by 36% YoY decline in three-wheeler segment volumes,” noted the Axis Securities report. Therefore, according to various brokerage reports, the automaker is slated to see at least 12% growth in its profit-after-tax. Street’s view: Bajaj Auto Q3 expectations <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue Growth (estimate) </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit Growth (estimate) </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.60% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.90% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.60% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Liladher </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr></tbody></table>Source: Brokerage reports Meanwhile, the share price of Bajaj Auto has risen nearly 28% since September 30, as the investors cheered robust sales growth during the quarter. The stock achieved a milestone in December after its market value crossed the ₹1 lakh crore ($14 billion) mark on the Indian stock exchanges. <div type="image" title="Bajaj Auto share (1)" msid="80363407" hostid="261"></div> Here’s what to expect from Bajaj Auto in Q3 While the three-wheeler continued to stay under pressure, Bajaj’s third quarter sales were 9% better than the same period last year. The analysts’ reports credit the year-end offers and the festive demand for the spike in revenue aside from the sharp jump in exports. <div type="image" title="Bajaj Auto (1)" msid="80363436" hostid="261"></div> Discounts eat into the margin, and input costs have risen too The Axis Securities report highlighted that the gross margin is expected to be slightly lower than last year on account of inflationary pressures on input costs. The coronavirus came at a time when the automakers were already battling with new emission norms and passing on the high input cost during that period wasn’t an option for the already reeling industry. According to a BP Wealth report, “earnings before interest, taxes, depreciation, and amortization (EBITDA) margin is expected to get contracted by 110 bps due to higher input costs and limited pass on of BS-VI costs.” Although the <a href="https://www.indiacarnews.com/news/bajaj-tvs-and-royal-enfield-motorcycles-get-expensive-43814/#:~:text=Bajaj%20Auto%20Price%20Hike,3%2C480%20and%20Rs%203%2C500%20respectively.">company did hike prices to offset the</a> cost, it was too late for it to impact the earnings. The analysts believe that the margins may improve over the next quarter after the recent price hike. “Gradual pass-through of BS-VI costs and tight cost controls are expected to offset RM cost inflation and negative impact of removal of MEIS benefit,” said the Nirmal Bang preview report. Exports to have a bigger share of the revenue pie this time With its exports growing at a higher pace top brokerages remain optimistic about its growth trajectory. The company is witnessing a faster recovery in key international markets of Africa, Latin America and others. Being the largest exporter in the three-wheeler category, the company is deemed to grow, according to ICICI Securities report dated December 16. Bajaj Auto has also been a beneficiary of rupee depreciation, with reported operating margins at industry-leading levels. Here’s what the top brokerages recommend Given all the positives around the brokerages remain Bullish on its stocks. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3850 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3920 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target met </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3500 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4000 </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms" data-type="tilCustomLink">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms" data-type="tilCustomLink">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a>

Bajaj Auto’s Pulsar bikes are still selling fast but its auto rickshaws aren’t⁠— it may squeeze the margin

<ul><li><keyword id="6359783" type="COMPANY" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> issued a clarification after news reports surfaced that its manufacturing facility in Aurangabad has been shut down.</li><li>The company said that “our manufacturing facility at Waluj [Aurangabad] is functioning normally.”</li><li>However, the company did accept that it had one Covid-19 positive worker on June 6. For which, it took all necessary measures for testing, contact tracing, self-isolation and complete sanitation as per protocol. </li></ul>India’s largest two-wheeler and three-wheeler manufacturer Bajaj Auto issued a clarification after <a href="https://www.freepressjournal.in/mumbai/as-79-employees-test-positive-for-covid-19-in-bajaj-autos-aurangabad-plant-video-of-rajiv-bajaj-mocking-lockdown-emerges">news reports</a> surfaced that its manufacturing facility in Aurangabad has been shut down after 79 employees tested positive for <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword>. However, the company said that its “manufacturing facility at Waluj is functioning normally”. “Post the country wide lockdown, our Waluj facility has been ramping operations from April 24, 2020 onwards. As part of the ramp-up, detailed cleanliness and health check protocols have been drafted and implemented in consonance and compliance with all Government regulations and guidelines. These protocols have been reviewed and approved by appropriate authorities and adherence is strictly monitored by our in-house health and security staff,” the company said in a statement. After a month-long shutdown, Bajaj Auto had reopened its plant at Aurangabad in Maharashtra on April 22, and due to the fear of the virus, the company was also working with a limited workforce. The Aurangabad plant handles a bulk of the exports of motorcycles and three-wheelers for the company. However, the company did accept that it had one Covid19 positive worker on June 6. For which, it took all necessary measures for testing, contact tracing, self-isolation and complete sanitation as per protocol. The company is now seeing demand normalizing at a faster rate than it expected. <a href="https://www.businessinsider.in/business/auto/news/from-bajaj-auto-and-eicher-to-tata-motors-factories-and-dealerships-are-open-waiting-for-pent-up-demand/slidelist/76445010.cms">According to Jeffries report, overall sales for June were </a>expected to be back at 80% of the normal times with the second half of the month at an almost 90% of the normal level. There is a large component of pent up demand that is driving current sales, it said. Since the beginning of 2020, Bajaj Auto’s share price has taken a massive hit because of the coronavirus pandemic, subdued sales and shutting down of showrooms and factories. The share price declined over 10.37% since the beginning of the fourth quarter, till date. The stocks, however, were on a positive trajectory after the automaker reopened many of its plants. <div type="image" title="Copy of Bajaj Auto Share price (1)" msid="76641770" hostid="261"></div> Earlier, <keyword id="45497" type="PERSON" weightage="20" keywordseo="Rajiv-Bajaj">Rajiv Bajaj</keyword>, managing director, Bajaj Auto had said that India’s approach for a lockdown was all wrong. "India has been in a draconian lockdown since the coronavirus outbreak. The draconian lockdown has flattened the wrong curve and that being of the GDP," said Bajaj in an interview with Congress’ Rahul Gandhi. Bajaj has been batting for the economy to <a href="https://www.telegraphindia.com/india/crisis-started-by-coronavirus-spread-by-government-rajiv-bajaj/cid/1766929">reopen even during the lockdow</a>n. He had said that the government should allow everyone to return to work except for those above 60 to help the economy recover. Bajaj told Rahul that India made a mistake by looking at the "West" and not the "East." He said India should have looked at Japan and South Korea rather than Europe and the US. "Don't understand how despite being an Asian country, we sought not to look East; we looked at Italy, France, Spain, UK &amp; US. Not right benchmarks in any sense be it in terms of inherent immunity, temperature, demography etc. We should have never been looking at the west, who are geographically and demographically different from us," he had said. Bajaj’s concerns came as Indian automakers have been dealing with the auto slowdown since last year and just as they were hoping to recover sales, the coronavirus lockdown hit them again. Moody’s Investor Service, the credit rating agency earlier said it expects global auto sales to fall 20% in 2020, more than its previous estimate of about 2.5% drop due to coronavirus concerns. It also retained a “negative” outlook on the sector and said it expects a healthy rebound in global sales in 2021 with a growth of 11.5%. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/from-bajaj-auto-and-eicher-to-tata-motors-factories-and-dealerships-are-open-waiting-for-pent-up-demand/slidelist/76445010.cms" data-type="tilCustomLink"> From Bajaj Auto and Eicher to Tata Motors⁠— factories and dealerships are open waiting for ‘pent up demand’</a> <a href="https://www.businessinsider.in/business/corporates/news/bajaj-auto-share-price-quarterly-profit-margin-and-new-tax-rate/articleshow/75848949.cms" data-type="tilCustomLink">Bajaj Auto’s profit margin springs up⁠ and the Pulsar maker opts for new tax rate to widen it further⁠— the shares jump over 4%</a> <a href="https://www.businessinsider.in/business/corporates/news/bajaj-auto-sales-slid-almost-38-in-march-when-the-covid-19-lockdown-was-in-place-for-just-a-week/articleshow/75818885.cms" data-type="tilCustomLink">Bajaj Auto sales slid almost 38% in March when the COVID-19 lockdown was in place for just a week</a>

Bajaj Auto denies that its Aurangabad plant is shut, says proper protocol was followed after one worker was COVID-19 positive

<ul><li><keyword id="6358511" type="DOMAIN" weightage="20" keywordseo="Bajaj">Bajaj</keyword> saw a massive decline of 64% in the first quarterly sales volume.</li><li>Bajaj rural sales have shown a positive recovery, driven by healthy Rabi procurement and strong progress of Kharif sowing.</li><li>The <a href="https://auto.economictimes.indiatimes.com/news/industry/moodys-cuts-2020-global-auto-sales-outlook-by-20-on-coronavirus-hit/75713152">credit rating agency, Moody’s earlier in May</a> said it expects the global auto sales to fall 20% in 2020.</li></ul>The lobby of Indian automakers called the last three months as the ‘worst quarter’ in over 2 decades and <keyword id="6359783" type="ORGANIZATION" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> (the country's largest 3-wheeler maker and second largest two-wheeler maker) wasn’t immune to it either. Sales volumes were down 64% between April to June 2020 compared to the same time last year. According to various <a href="https://www.business-standard.com/article/markets/bajaj-auto-q1-preview-higher-other-income-to-cushion-decline-in-net-profit-120072100187_1.html">analysts reports</a>, Bajaj is projected to see a profit dip of nearly 42%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Decline in net profit </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Securities </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-43% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emkay Global </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-44.30% </td></tr></tbody></table> When other companies clocked <a href="https://www.newindianexpress.com/business/2020/may/04/bajaj-auto-reports-zero-sales-in-domestic-market-in-april-2139018.html">zero sales in the month of April</a>, Bajaj was the only company to sell nearly 32,009 units, though it was down 91% year-on-year. However, as the market opened up in June, Hero managed to beat Bajaj in sheer volumes for the quarter. <div type="image" title="Auto slaes" msid="77078464" hostid="261"></div> According to Brokerage firm <a href="https://economictimes.indiatimes.com/markets/stocks/recos/buy-bajaj-auto-target-price-rs-3250-sharekhannbsp/articleshow/76851291.cms">Sharekhan</a>, Bajaj rural sales have shown a positive recovery, driven by healthy Rabi procurement and strong progress of Kharif sowing. Semi-urban areas have also been witnessing a strong pick-up driven by an increased preference for personal transport to ensure social distancing. And, that is the reason the stock has run up 48% since March 31 until now, as investors are betting on the company's long-term prospects. <div type="image" title="Copy of Bajaj Auto Share price (2)" msid="77078505" hostid="261"></div> The outlook for the auto industry is pretty bleak as of now, not just in India but across the world. The <a href="https://auto.economictimes.indiatimes.com/news/industry/moodys-cuts-2020-global-auto-sales-outlook-by-20-on-coronavirus-hit/75713152">credit rating agency, Moody’s earlier in May</a> said it expects the global auto sales to fall 20% in 2020. <div type="image" title="Bajaj Auto exports (1)" msid="77078963" hostid="261"></div> In its last post-earnings investor call, the management said it expects a “smart recovery” in the second half of the year. It has to be seen if CEO Rajiv Bajaj’s confidence is shaken by the pace of recovery so far. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reco </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2895 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3250 </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hold </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2637 </td></tr></tbody></table>*Closing price on July 20: ₹3010 SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-first-quarter-earnings-preview-and-share-price-chart/articleshow/77064090.cms" data-type="tilCustomLink" style="">Chai and sanitiser may save the quarter⁠ for Hindustan Unilever</a> <a href="https://www.businessinsider.in/science/health/news/serum-institute-of-india-to-soon-apple-for-local-trials-of-astrazeneca-oxford-covid-vaccine/articleshow/77077382.cms" data-type="tilCustomLink">Serum Institute of India to soon apply for local trials of AstraZeneca-Oxford Covid-19 vaccine</a>

Bajaj Auto shareholders will look for cost controls and CEO confidence as sales remain a lost cause due to the lockdown

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

<ul><li><keyword id="152509" type="PERSON" weightage="20" keywordseo="Rajeev-Jain">Rajeev Jain</keyword> has several years of experience in managing diverse consumer lending businesses like auto loans, durables loans, personal loans and credit cards.</li><li>In his previous assignments, Jain has worked with Countrywide Consumer Financial Services, ANZ Grindlays Bank, <keyword id="91294" type="COMPANY" weightage="20" keywordseo="American-Express">American Express</keyword> and AIG.</li></ul> <keyword id="111876" type="DOMAIN" weightage="20" keywordseo="Bajaj-Finance">Bajaj Finance</keyword> on Wednesday said its board has reappointed Rajeev Jain as managing director. "The board of directors, at its meeting held on March 17, 2020, has reappointed Rajeev Jain, managing director of the company for a further period of five years with effect from April 1, 2020," Bajaj Finance said in a filing to BSE. The development is subject subject to approval of the shareholders of the company at the ensuing annual general meeting, it said. Jain is the managing director of their company since April 1, 2015. He has more than 26 years of experience in the consumer lending industry. He has been associated with the company for over a decade. In his previous assignments, he has worked with Countrywide Consumer Financial Services, ANZ Grindlays Bank, American Express and AIG. He has several years of experience in managing diverse consumer lending businesses like auto loans, durables loans, personal loans and credit cards.

Bajaj Finance board reappoints Rajeev Jain as MD

At the age of 39, <keyword id="45497" type="PERSON" weightage="80" keywordseo="Rajiv-Bajaj">Rajiv Bajaj</keyword> stepped up to become the Managing Director of the flailing Pune-based <keyword id="196995" type="COMPANY" weightage="80" keywordseo="Bajaj-Auto-Ltd">Bajaj Auto Ltd</keyword>, then the country’s second largest two-wheeler manufacturer. He turned the tides around and introduced the <keyword id="486961" type="PERSON" weightage="80" keywordseo="Bajaj-Pulsar">Bajaj Pulsar</keyword> motorcycles which are widely credited with reviving the fortunes of the company and benefitting the Indian auto industry. 
 
It was also under his direction that the company in 2009 exited the scooter business, much to everyone’s shock. Fast-forward to 2015, and the man of the hour, Rajiv Bajaj rules out entering the scooter business again. 
 “Any news of Bajaj Auto getting back into the <keyword id="644218" type="UNKNOWN" weightage="20" keywordseo="scooter-market">scooter market</keyword> is not just wrong, but also imaginary,” he said on the sidelines of the National Competitiveness Forum in Gurgaon, when we pinned this famously reclusive and media-wary MD down. 
 
Bajaj then elaborated on the reason behind the company exiting the scooter market. “At that time, we decided to stop being the local player and instead wanted to become a global player, and then later, the best in the world. Achieving that isn’t easy. Hence, we took a calculated decision of narrowing our focus and specializing in only motorcycles.” 
 
The price one has to pay for specialization is sacrifice, and that’s exactly what Bajaj Auto Ltd did, he added. 
 
“We are not coming back to the scooter market. We won’t do that until Bajaj Auto Ltd becomes the largest motorcycle manufacturer in the world,” he claimed. 
 
He is of the belief that the company has to earn the right to make scooters now and for that being No 1 in the motorcycle market is a priority. 
 From the 1970s to the 1990s, scooters from Bajaj Auto dominated the two-wheeler market, until its competitor <keyword id="106454" type="COMPANY" weightage="80" keywordseo="Hero-Honda-Motors-Ltd">Hero Honda Motors Ltd</keyword> introduced four-stroke motorcycles in the market, shifting the momentum. 
 
This led to the decline of scooter sales as more and more people began to opt for motorcycles resulting in Bajaj Auto Ltd exiting the scooter market in order to not let their business be impacted any further. 
 
Bajaj also gave a sneak peek into his plans of launching quadricycles Qute in over 15 countries at a price of $2000, after testing the vehicle they made from scratch in India, in the Turkey market. 
 
Though the vehicles have been ready for some time now, the company has been unable to sell it in the home market, due to being dragged to the courts over the vehicle’s safety parameters. Fed up, Bajaj took the plunge and made the decision to export it abroad. 
 
“It is very easy to Make in India, but very difficult to sell in India,” he concluded. 
 
Image credit: Indiatimes

Exclusive: Rajiv Bajaj, India’s most reclusive MD speaks up,
says, ‘It is very easy to Make-in-India, but very difficult to sell here’

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> snapped a 3-day losing streak posting a modest gain of 0.3 percent as short covering and some long positions helped the Index close above a crucial support level. 
 The Nifty ended 28 points higher at 8,350 with 32 shares gaining ground compared with 18 that fell. Vedanta and <keyword id="44642" type="CITY" weightage="100" keywordseo="Sun-Pharma">Sun Pharma</keyword> were the top gainers on the Nifty with TCS, <keyword id="6359783" type="CITY" weightage="100" keywordseo="Bajaj-Auto">Bajaj Auto</keyword> and <keyword id="6365619" type="CITY" weightage="100" keywordseo="Hindustan-UniLever">Hindustan Unilever</keyword> bringing up the rear. 
 The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> shut shop at 27,661 with the Index gaining 87 points on Friday. <keyword id="6354446" type="CITY" weightage="100" keywordseo="BHEL">BHEL</keyword>, HDFC Bank and <keyword id="6355199" type="CITY" weightage="100" keywordseo="Reliance-Industries">Reliance Industries</keyword> shone brightly in trade even as Bharti, GAIL and ONGC slipped. The wider Advance-Decline on the broader markets favoured the bulls with 1,423 shares rising compared with 1,380 that fell. 
 Among other indices, the <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> was in a fine uptrend, gaining 1.1 percent at 18,719 points. 21 out of 22 Banking Futures posted smart gains as traders latched on to beaten down valuations, especially in the PSU banking space. 
 
CNX Energy Index, CNX Pharma Index and CNX Media Index were the others that posted gains. 
 
(Image credits: openmarkets)

You Searched For "Bajaj Auto Credit" and got 7 results

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Bajaj Auto shareholders will look for cost controls and CEO confidence as sales remain a lost cause due to the lockdown

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Bajaj Finance board reappoints Rajeev Jain as MD

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