Bajaj Auto crosses Rs 1 lakh crore market cap

Bajaj Auto crosses Rs 1 lakh crore market cap

Mumbai: Bajaj Auto on Friday crossed the market capitalisation of Rs 1 lakh crore after its stock closed 1% higher at Rs 3,482.8 per share.

With this, the company laid claim to becoming the first two-wheeler company to reach this milestone as well as being the most valuable two-wheeler maker in the world.

“This market cap is considerably higher than all other domestic two-wheeler companies. As per analysts, a market capitalization of over (Rs 1 lakh crore) has not been achieved before by any international two-wheeler company anywhere in the world,” the company said in a press statement.

Bajaj Auto’s stock has gained over 21% in the past six months on the BSE after its exports recovered sharply from the impact of the Covid-19 pandemic.

The company last week announced that it was investing Rs 650 crore to set up a manufacturing facility at Chakan with an annual capacity of rolling out 1 million two-wheelers. The new plant will focus on high-margin premium motorcycles and electric two-wheelers, the company said.

“The company’s sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM (Total Productive Maintenance) combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe,” said Rajiv Bajaj, managing director of Bajaj Auto.

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