Bajaj Auto announces Rs 5,600-crore share buyback
Pune-based automobile company Bajaj Auto Ltd officially informed the stock exchange about its second share buyback in two years on Wednesday, adding that it will buy back shares worth Rs 5,633 crore.
Pune-based automobile company Bajaj Auto Ltd officially informed the stock exchange about its second share buyback in two years on Wednesday, adding that it will buy back shares worth Rs 5,633 crore.
Triumph is gearing up to enter a new space in India’s motorcycle market with its upcoming 350cc range, expected to launch in April. After the strong response to the Speed 400 and Scrambler 400 X, the brand is now looking to offer a more cost-friendly option by staying under the 350cc tax bracket, potentially reshaping its strategy for Indian riders.
The passenger vehicle (PV) dispatches to dealerships dropped by 9 per cent year-on-year in August, data released by the Society of Indian Automobile Manufacturers (SIAM) said, adding the two-wheeler sales recorded steady growth.
Riding on its green energy portfolio, Bajaj Auto on Wednesday reported a net income of Rs 2,005 crore in the July-September quarter (Q2 FY25), up 9 per cent from a year-ago period.
Electric 2W volumes crossed the 1,00,000 mark last month while E3W volumes reached a new peak of 63,000, according to the report by BNP Paribas India.
The two-wheeler giant’s revenue during the quarter jumped 16 per cent to Rs 11,932 crore compared to the same period of 2023-24 on the back of robust vehicle sales and record spares revenue.
The extension of the free service period is applicable on all two-wheelers and commercial vehicles.
"The initial output from this manufacturing impetus will see the first of these shared platform vehicles beginning of 2022," it added.
Total motorcycle sales were at 3,38,584 units last month as against 284,802 units in December 2019, up 19 per cent.
The proposed investment further reinforces the commitment of Bajaj Auto to the State of Maharashtra where the journey began.
