New Delhi, Nov 26 () Shared e-mobility service provider Yulu on Tuesday said it has secured USD 8 million (approximately Rs 57.2 crore) investment from two-wheeler major Bajaj Auto.
 As part of the tie-up, Yulu will source electric two-wheelers from Bajaj Auto which have been co-designed and manufactured exclusively for shared micro-mobility, Yulu said in a statement.
 Bajaj Auto will also consider facilitating vehicle finance needs of Yulu for a large-scale deployment of its micro-mobility electric vehicles, it added.
 "We believe that... congestion reduction and pollution control will drive the segment of shared micro-mobility in the future," Bajaj Auto Managing Director Rajiv Bajaj said.
 That, coupled with the expansion of mass rapid transport systems like Metro in large cities, will further boost the demand for flexible last-mile connectivity, he added.
 "In Yulu, we find an experienced and committed partner with robust achievement of success metrics in a very short time. And this is why we decided to partner with them in their journey of bringing Yulu service to every neighbourhood of urban India," Bajaj said.
 Yulu said the fresh round of investment will be utilised for further strengthening of the mobility platform and deepening of the technology solutions for rapid expansion.
 The company plans to increase its fleet size to 1,00,000 electric two-wheelers by Dec 2020 with an extensive network of its battery-swapping stations across the cities where it operates.
 "Yulu's electric two-wheelers will help Indian commuters with the first and the last mile connectivity option. This partnership aims to solve the mobility challenges of urban India in an eco-friendly manner," Yulu Co-Founder and CEO Amit Gupta said.
 Currently, Yulu is present in Bengaluru, New Delhi, Pune, Greater Mumbai, and Bhubaneswar. MSS RKL ANS
ANS
ANS

Yulu receives USD 8 mn funding from Bajaj Auto

New Delhi, Jan 30 () Bajaj Auto's long serving Chairman Rahul Bajaj will step down from executive role to become a non-executive director while continuing to hold his current position, the company said on Thursday.
 Bajaj, who has been a director of the company since April 1, 1970, was last reappointed by the board for a five-year term with effect from April 1, 2015, and his term as executive chairman is expiring on March 31, 2020, the company said in a regulatory filing.
 "Due to certain commitments and other pre-occupation, Rahul Bajaj has decided not to continue as a whole-time director of the company after the expiry of his current term on March 31, 2020," it added.
 Bajaj Auto further said its board of directors in a meeting held on Thursday approved his appointment as non-executive director with the designation continuing as the chairman of the company with effect from April 1, 2020, subject to shareholders' approval. 
 Since Bajaj has already attained the age of 75, approval of shareholders will be taken by special resolution by way of postal ballot for his appointment as non-executive chairman as required under SEBI regulations, the company added.
 After taking charge of the Bajaj Group business in 1965, Rahul Bajaj led the company to its growth path. Under his stewardship Bajaj Auto, the group's flagship company, saw its turnover grow to Rs 12,000 crore from just Rs 7.2 crore with the firm's scooters becoming the mainstay.
 He steered the diversified entity during India's transition from a closed economy to a liberalised one and drove the company to expand its product portfolio with the Bajaj brand finding foothold in global markets. 
 In 2005, Rahul Bajaj started passing the baton of the company to son Rajiv Bajaj, who became the managing director of Bajaj Auto and led the company to become a truly global automobile player. 
 Rahul Bajaj, an Economics graduate from Delhi University as well as an MBA from Harvard Business School, was also a member of Rajya Sabha from 2006-2010. RKL RUJ
RUJ

Rahul Bajaj to step down from executive role, to stay as non-executive Chairman of Bajaj Auto

<ul><li>According to a survey by job search platform Indeed, half of the Indian businesses have already trimmed contractual workforce and freelancers. </li><li>Two in five SMBs are expected to go with remote <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword>. </li><li>While a third of them said that they will temporarily halt hiring activity — and are only focussing on critical hiring. </li><li>Several other conglomerates said that they will not cut salaries of the staff in the wake of Coronavirus. </li></ul>As India locks down, its economy has come to a grinding halt. That has affected the gig economy the worst. According to a survey by job search platform Indeed, half of the Indian businesses already trimmed the contractual workforce and freelancers to cut operational costs. Employment and employer services have changed ever since the crisis took over. In addition, a third of companies surveyed said that they will temporarily halt hiring activities — and only focus on critical hiring. While it is in the throes of trouble, the gig economy is also well prepared to ride the troubled time. As many as 83% of businesses are working on contingency plans. “It includes frequent communication protocols and technological infrastructure to ensure seamless remote working,” the survey said. And, two in five small and medium businesses are expected to go for remote hiring. “Resilience is being displayed by many employers who are exploring new ways to ensure their workforce is able to function seamlessly. Our data shows that remote working and work from home searches have been steadily increasing also, indicating jobseeker expectation mirrors these measures,” said Sashi Kumar, MD at Indeed India. Tatas, Bajaj and Flipkart assure salaries On the other hand, a few large corporates are <a href="https://economictimes.indiatimes.com/jobs/special-leave-to-ensure-isolation-doesnt-hit-pay/articleshow/74681435.cms">protecting employees with its ‘special leave’ policy</a> to ensure that they are paid during quarantine. Tata Sons Chairman N Chandrasekaran also assured that the company will give away full payments to the daily wage workers for the two months — March and April. Flipkart too said that the isolation period will not impact their salaries. “I will cut my salary to zero before a single employee is laid off,” Rajiv Bajaj, managing director and chief executive officer of Bajaj Auto, <a href="https://www.business-standard.com/article/companies/india-inc-rules-out-cut-in-jobs-and-salaries-amid-coronavirus-outbreak-120032001967_1.html">said</a>. Airlines however which are the worst hit sectors have already said that it will cut salaries of its employees. The cash-strapped national carrier Air India announced cost-cutting measures which included reducing certain allowances or suspending certain services that it pays to its executive pilots, cabin crew and ground staff. See also: <a href="https://www.businessinsider.in/business/news/people-will-lose-jobs-warns-niti-aayog-chief-as-he-pushes-for-cash-handouts/articleshow/74789613.cms">People will lose jobs, warns NITI Aayog chief as he pushes for cash handouts</a>

It’s the worst time to be a contract worker, freelancer or a gig economy worker

<ul><li>Bajaj Auto announced its earnings for the first quarter of FY20. </li><li>Bajaj Auto’s profits stood at ₹1126 crores as compared to ₹1115 crores in the same quarter last year. </li><li>Its share price jumped by 4% after it announced earnings.</li></ul>Bajaj Auto’s share price jumped by over 4% as the country’s leading two and three-wheeler maker gave up margin for more market share. The company led by Chief Executive Officer Rajiv Bajaj in the domestic motorcycle segment, has a market share of 18.3% against 16.3% in Q1FY19. Meanwhile, in the sports segment, the company continues to enjoy a market share of nearly half the segment. This came at a cost. Overall margins shrank to 16.1% from 18.3% because automobile demand has been on a downtrend last few months. At a time when the sales for the entire two-wheeler industry fell 9%, Bajaj Auto clocked a 1.6% growth in sales between April and June 2019. Bajaj Auto’s profits stood at ₹1126 crores, just a tad higher than the figure the same time last year. It’s consolidated profit after tax stood at ₹1012 crores, down 2.8% from a year earlier. Its total revenue from operations grew 3.8% to ₹ 7,756 crores. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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Bajaj Auto share price spikes as company gains market share

Pune, Jan 24 () Bajaj Auto and iconic British motorcycle brand Triumph on Friday formally commenced their non-equity global partnership to manufacture a new range of mid-capacity motorcycles in the country.
 The first bike under the partnership, which was forged in August 2017, will be rolled out in 2022 and will carry a starting price tag of less than Rs 2 lakh, Triumph Motorcycle Chief Commercial Officer Paul Stroud said at a press conference here.
 The new bikes will be manufactured at Bajaj Auto's Chakan facility.
 "The Triumph brand is an iconic brand the world over. So, we are confident that there will be a huge appetite in India and other emerging markets for these new products," Bajaj Auto Managing Director Rajiv Bajaj said.
 The collaboration will explore the 200cc-500 cc motorcycle category to offer multiple product options across various segments.
 Triumph bikes manufactured under the collaboration will be sold under Triumph brand, and not Bajaj auto, through exclusive network of outlets.
 However, as part of the pact, the bike will be be exported to all overseas markets where Bajaj has a strong presence. 
 On the other hand, the home-grown auto maker will be able to increase its scale of operations in involving both domestic and exports markets.
 This is the first time Triumph Motorcycles has partnered with any other auto maker, its chief executive officer Nick Bloor said.
 The partnership will build a new engine and vehicle platform in the mid-capacity range (200-800 cc) and offer multiple options to address different segments in this class.
 "The products that will come out of the partnership will also help attract a younger, but still discerning customer audience and is another step in our ambition to expand globally, particularly in the fast-growing markets of South East Asia but also driving growth in more mature territories like Europe," Bloor said.
 The Triumph-Bajaj collaboration will combine strength in design, technology, cost-competitive manufacturing and an intimate knowledge of key target markets to deliver a range of products and business successes, as per the pact.
 Bajaj did not divulge the details on revenue sharing between the partners or the potential investment that would be made into the joint development and in the manufacturing of the planned models in the immediate future.
 The strategic partnership will benefit both parties with Bajaj becoming one of the key distribution partners for Triumph in crucial new markets for Triumph brand globally, a statement said, adding that going forward Bajaj will take over Triumph's Indian distribution activities.
 In all other markets where Triumph is present currently, the bikes developed together will join the current Triumph product portfolio and be distributed by Triumph-led dealer network globally.
 "This will truly unlock the potential on a global scale," it added.
 Triumph manufactures over 60,000 bikes per year and has around 650 dealerships across the world.
 In India, it sells around 1,000 bikes in a year, Bloor said. IAS RVK

Bajaj, Triumph commence global partnership, to roll out 1st motorcycle in 2022

Mumbai, Jan 14 () Bajaj Auto managing director Rajiv Bajaj on Tuesday said that an "over-regulated" market has pushed up two-wheeler prices which would increase by around 30 per cent in a one-and-half-year period.
 Speaking at the launch of the electric version of the iconic Chetak scooter, Bajaj also pitched for lowering of GST rates.
 The market is "over-regulated", which has led to an increase in the two-wheeler prices, Bajaj said.
 The hike in prices would be about 30 per cent in one-and-a-half years, he said while referring to the impact of the implementation of new emission norms. Automakers have stated that BS-VI models would carry a higher price tag compared to BS-IV vehicles.
 Earlier, the Pune-based automaker announced the formal launch of its much-awaited Chetak electric scooter, at a starting price of Rs 1-lakh.
 It also announced the bookings, online and through select KTM stores, for the new vehicles from January 15 and deliveries from February-end.
 Bajaj also said that while the government has announced GST on electric vehicles at 5 per cent, the vehicles with combustion engine continue to attract 28 per cent and it to be lowered to 18 per cent. He also said he was not expecting much in the forthcoming union budget which could address the current issues industry is facing.
 The electric variant of the iconic Chetak will initially be available in Pune and Bengaluru, it said.
 "The return of the legendary Chetak now in a modern electric avatar is indeed a proud moment for all of us. From January 15 onwards Chetak will be available in two cities and this will mark the commencement of a new era in two-wheeler mobility," Rakesh Sharma, Executive Director, Bajaj Auto said.
 The automaker had unveiled Chetak last October.
 The company said the electric scooter will be available in two variants, Urbane and Premium.
 While Urbane edition with drum brakes will be priced at Rs 1-lakh, the Premium edition with disc brakes and luxury finish will be priced at Rs 1.15 lakh, it said, adding, both prices are ex-showroom and inclusive of applicable subsidies, and exclusive of insurance and road tax, the company said.
 To provide a seamless and convenient booking experience, customers can book the vehicle online on the Chetak website at an initial amount of Rs 2, 000, the company stated.
 According to Bajaj Auto, Chetak needs minimal maintenance with a service interval of 12,000 kilometres or one year (whichever is earlier) and comes with an overall warranty of 3 years or 50,000 kilometres (whichever is earlier) inclusive of the Lithium-Ion battery.
 "Our objective is to provide an attractive and viable option to commuters with different needs and expectations through the Chetak range. To achieve this, we have offered a highly advanced and elegant looking electric scooter at an affordable price," Sharma added. IAS MR
MR

Over-regulated market jacking up 2-wheeler prices, says Bajaj

A distinguished billionaire entrepreneur of India, <keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> is also a philanthropist and Member of Parliament. Rahul Bajaj hails from the business house established by Jamnalal Bajaj and eventually became the chairman of the most prestigious Bajaj Group, an Indian conglomerate. Here are a few interesting <keyword id="8407225" type="UNKNOWN" weightage="20" keywordseo="facts-about-rahul-bajaj">facts about Rahul Bajaj</keyword> which you might not have known. Rahul Bajaj was born on 10 June 1938. Son of an Indian independence fighter Jamnalal Bajaj, his birth happened in a Marwari family. In 2001, Rahul Bajaj got the highest civilian award in the country Padma Bhushan. Rahul Bajaj spoke at length about the marketing scenario in India in an interview connected with a project entitled Creating Emerging Markets at the Harvard Business School and thoroughly criticized the industrial policies of the country before liberalization in the 1990s. Bajaj did his schooling in Cathedral and John Connon School and studied law at Government Law College, Mumbai. He is an alumnus of Harvard Business School in the US and St. Stephen's College, Delhi. Rahul Bajaj took over the Bajaj Group in 1965 and gave a wonderful leadership to the entity till 2005. Following him, his son Rajiv became the managing director of the Group. He became the CEO of Bajaj Auto in 1968 when he was just 30 years. Rahul Babaj got elected to the Upper House of the Parliament for the period between 2006 and 2010. His wealth is estimated at US$ 4.2 in the year 2019. Earlier in 2016, the Forbes magazine ranked him in the 722nd position in the list of world’s billionaires. Rahul Bajaj has three children. His sons Rajiv Bajaj and Sanjiv Bajaj are managing his establishments. His daughter Sunaina is given in marriage to Manish Kejriwal, the former chairman of Temasek India. The Pune based manufacturer has his stakes in firms including Bajaj Holdings and Investments, an investment company, and Bajaj Finserv, which is a leading insurance and consumer finance group in India. The major chunk of Rahul Bajaj’s wealth comes from the company Bajaj Group that was established in the year 1926 by his grandfather Jamnalal. He has a significant investment in Bajaj Auto, one of the largest makers of two wheelers in the world. In 2018, the company made a revenue of 247 billion rupees. Rahul Bajaj has 10% stake in Bajaj Finserv, an insurance and consumer finance provider and 24% stake in Bajaj Holdings &amp; Investment, the holding company, which fall under the Bajaj Group. His other holdings are 2% stake in Bajaj Finance, 14% stake in Bajaj Electrical, a home appliance maker and 19% stake in Mukand, manufacturer of wire rods, alloy castings and steel bars. Pointing out that business was in his blood, Rahul Bajaj once said in an interview at the Harvard Business School, “Given my family background, I knew I wanted to be a businessman by the time I was about 12”. In 2008, he split the Bajaj Auto into three units for the sake of boosting the shareholder’s returns and provided more control in the management to his sons Rajiv and Sanjiv.

Unknown Facts About padma bhushan Rahul Bajaj

<ul><li><keyword id="2623347" type="PERSON" weightage="20" keywordseo="Biocon-chief-Kiran-Mazumdar-Shaw">Biocon chief Kiran Mazumdar Shaw</keyword> and former Infosys Director <keyword id="6491998" type="PERSON" weightage="20" keywordseo="mohandas-pai">Mohandas Pai</keyword> told a newspaper that they were told hold back their criticism of the Modi government by an official.</li><li><keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword>, chairman of Indian conglomerate Bajaj Group, said that the auto industry’s going through a rough patch because of lack of demand and no private investment. </li><li>Over the months, more and more stock market investors have taken to Twitter to talk about the government’s unfriendly market policies. </li><li>Adi Godrej, chairman of the Godrej group, had said that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”.</li></ul>Indian companies have been betting big on PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>. And why not? In 2017-18, a lion’s share of <a href="https://www.business-standard.com/article/economy-policy/data-shows-bjp-bagged-92-of-corporate-donations-to-political-parties-119011701405_1.html">corporate</a> political donations went to his party, BJP. Now, they are livid. The latest to join the bandwagon of angry corporates is Kiran Mazumdar shaw who made a shocking revelation on Sunday. A government official reportedly told her not to speak of harassment by tax officials in relation to <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">the unfortunate death of VG Siddhartha</a>, the founder of <keyword id="46195" type="COMPANY" weightage="20" keywordseo="Cafe-Coffee-Day">Cafe Coffee Day</keyword> outlets. "“He just said that ‘please don’t make such statements. Even Mohandas Pai should not. I am telling you as a friend’,” the Biocon chief told The Telegraph. Even Mohandas Pai, the former Infosys director who is currently a private investor who backs startups, chimed in. "Lots of people get such threats," he told the newspaper. Both of them have been avid supporters of Narendra Modi in the past and bitter critics of the Congress-led United Progressive Alliance government that ruled from 2004 to 2014. “I used to speak out always. It doesn’t matter if UPA is in power or the NDA,” Shaw said urging the corporate world to speak up. Earlier, Rahul Bajaj, the chairman of Indian conglomerate Bajaj Group. During his company’s Annual General Meeting, he spoke of the government’s role in the weak sales of the auto industry. Fall from Heavens “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Bajaj added. The Budget has not cheered them either. The government imposed a tax on super rich, and <a href="https://www.business-standard.com/article/markets/sebi-s-separate-fpi-registration-plan-draws-flak-from-investors-119061901134_1.html">Business Standard</a> had reported that market regulator SEBI mandated separate registrations for Foreign Portfolio Investors. The resentment against these rules is rising. The slow pace of economic growth, and their credibility isn’t helping either. Until now, corporate giants stayed out of the debate over credibility of government's growth data between <a href="https://www.businessinsider.in/131-cas-respond-to-letter-from-economists-disputing-govt-gdp-data/articleshow/68463411.cms">108 economists</a> and 131 chartered accountants. But, now they are not holding back. “The government may or may not be saying this but there are clear cut markings from the International Monetary Fund (IMF) and World Bank, which shows a decrease in growth in the last three-to-four years. Like any government they would like to show a happy face, but reality is reality” Rahul Bajai <a href="https://www.moneycontrol.com/news/technology/auto/angry-rahul-bajaj-criticises-centre-for-falling-demand-private-investment-4259711.html">said.</a> Meanwhile, his son Rajiv Bajaj had said government’s policies on<a href="https://www.moneycontrol.com/news/technology/auto/governments-policy-on-electric-vehicles-has-left-everybody-confused-rajiv-bajaj-4252151.html"> electric vehicles</a> had left everyone confused. Complaints in chorus The Bajajs, Kiran Mazumdar Shaw, and Mohandas Pai are not alone. Adi Godrej, chairman of the Godrej group, too <a href="https://www.firstpost.com/business/industry-leaders-reaction-on-budget-2019-adi-godrej-says-budget-is-not-growth-oriented-stock-market-comes-down-considerably-6940161.html">said</a> that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”. <a href="https://www.ndtv.com/india-news/adi-godrej-rising-intolerance-hate-crimes-can-seriously-damage-growth-2068996">Godrej also touched upon a sensitive subject </a>saying that rising intolerance in the country is also affecting growth. Investor and author Basant Maheshwari recently took to Twitter to say, “Lowering GST and other charges on Electric Vehicles won’t create demand. There is just no infrastructure. People won’t change preferences like that plus EVs aren’t cheap. However, it will surely lead to a fresh bout of short selling in the frontline auto names? That’s all.” This is an unexpected move for top corporates who had stayed away from government bashing even during demonetisation in 2016. Clearly, the tables have now turned. Porinju Veliyath, founder and CEO of Equity Intelligence, after the Budget said, “India dreams a $5 trillion, graft-free, double-digit, free-market-driven, rule-based and liberal economy by 2025! This is very much doable, but I am afraid parts of the Budget - the direction it points, can take us back to 4% GDP growth rate!” Center of the Left Veliyath had even written a letter to his investors, explaining the poor performance of his portfolio. "Some of the budget provisions did not acknowledge the cardinal principles of a free-market economy," Veliyath said in his letter on Thursday (July 18) adding that the positives of the continuity in government <a href="https://www.businessinsider.in/india-market-news-porinju-veliyath-blames-the-budget-for-bear-market-in-smaller-stocks/articleshow/70277012.cms">has been lost with the market unfriendly provisions in the Budget. </a> When big money backed Modi with hopes of market reform, they made a bad bet on a party whose ideology is rooted in ‘Swadeshi’, which can be loosely translated to home-grown conservatism. As the commentator and author <a href="http://www.newindianexpress.com/opinions/columns/shankkar-aiyar/2019/jul/21/the-bjps-socialistic-conservatism-2006971.html">Shakar Aiyar argued recently</a>, “In popular perception, the BJP was seen as the home of right of centre economics. And the centre continues shifting to the left.” SEE ALSO: <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">A former Prime Minister cried on national TV for VG Siddhartha-- the untold tales of politics and privilege may die with India’s coffee baron</a> <a href="https://www.businessinsider.in/cafe-coffee-day-founder-vg-siddhartha-letter-to-board-of-directors/articleshow/70443951.cms" data-type="tilCustomLink" target="_blank">Full text of the letter written by Cafe Coffee Day founder VG Siddhartha before he went missing</a>

You Searched For "Rajiv Bajaj" and got 8 results

Yulu receives USD 8 mn funding from Bajaj Auto

PTI

Rahul Bajaj to step down from executive role, to stay as non-executive Chairman of Bajaj Auto

PTI

It’s the worst time to be a contract worker, freelancer or a gig economy worker

Prerna Sindwani

Bajaj Auto share price spikes as company gains market share

Sanchita Dash

Bajaj, Triumph commence global partnership, to roll out 1st motorcycle in 2022

PTI

Over-regulated market jacking up 2-wheeler prices, says Bajaj

PTI

Unknown Facts About padma bhushan Rahul Bajaj

BI India Bureau

Narendra Modi has a new problem – big corporates and moneybags are angry

BI India Bureau