According to the latest reports, the government in India is moving to allow quadricycles on Indian roads but the vehicles can only be sued for taxi and cargo purposes in the country.
Indian two wheeler giants, Bajaj Auto has planning a host of new launches in the Indian two wheeler industry during the coming 12 months to take on rivals like Honda Motorcycle and Scooter India.
Bajaj recently lost its number two position in the Indian market to Honda and thus the company is aiming to launch 2 new Pulsar, and 6 new Discover variants during the next 12 months to increase the competition and regain their No 2 position in the country. The company is planning to expand its presence both in the Indian market as well as in foreign markets with the 8 new models planned.
India's second biggest two-wheeler manufacturer, Bajaj Auto has said that it has recorded a fall of 0.77 per cent in net profit for the quarter till March 2013.
The company recorded a net profit of Rs. 766 crore for the quarter form January to March, 2013 compared to Rs. 772 crore recorded in the same quarter of the previous year. The fall in net profit was recorded after four quarters and was mainly due to weak demand for vehicles in the country as well as increased contribution of other income.
New Delhi, May 16 : Two- and three-wheeler manufacturer Bajaj Auto Thursday reported a marginal increase of one percent in net profit for 2012-13.
The net profit stood at Rs. 3,044 crore from Rs. 3,004 crore in the fiscal year 2012-13.
The company reported a three percent growth in turnover for the period under review at Rs. 20,793 crore from Rs. 20,137 crore in the first quarter of last fiscal.
The company's total sales in 2012-13 declined by three percent at 4,237,162 units from 4,349,560 the 2011-12.
Indian automotive major, Bajaj is planning to launch its new Pulsar 375 motor bike this year in the Indian market to compete better with both domestic and global rivals in the country.
New Delhi, Jan 16 : Two and three wheeler major Bajaj Auto Wednesday reported a three percent growth in its net profit for the third quarter of the current fiscal, which stood at Rs. 819 crore as against Rs. 795 crore in the previous fiscal.
The auto major posted net sales growth of five percent at 1,127,741 units in the third quarter as compared to 1,075,441 units in the like period of last fiscal year.
According to the company, this was the highest ever profit after tax and turnover in the quarter under review.
Pune/New Delhi, Jan 7 : Two- and three-wheeler maker Bajaj Auto Monday launched its 100 cc motorcycle Discover 100T priced at Rs. 50,500 (ex-showroom New Delhi).
"The all-new Discover 100T delivers the power of a 125cc with the economy of a 100cc to bring in the joy of riding to this segment," said K. Srinivas, president, motorcycle business, Bajaj Auto.
"While 100cc bikes do offer good mileage, their style, features and performance leave a lot to be desired. The steady growth of the more expensive 100cc bikes at the cost of the cheaper models is a clear evidence of this."
Pune-based Bajaj Auto Ltd. on Wednesday reported its `highest-ever' December sales, encouraging investors who sent the stock to a 52-week high of Rs 2215 a share.
In a statement to the Bombay Stock Exchange (BSE), Bajaj Auto said that sales of its motorcycle and commercial vehicles jumped 13 per cent and 9 per cent in December 2012, respectively, from the corresponding month of 2011. Consolidated sales and exports grew 13 per cent and 5 per cent, respectively, over the same period.
Indian Stock Markets continued in the positive territory on Thursday as the US markets gained smartly on Wednesday. Stock prices of Gold Loan companies witnessed huge demand after reports of loan valuation for gold ratio increase to 75 per cent.
JSW Steel has increased price of all steel products of the company. The stock price was higher in today's session. Maruti Suzuki and M&M witnessed higher sales during December compared to other auto majors facing tough times.
Indian Stock Markets witnessed decent gains on Wednesday as the market rally continued from previous day. NSE Nifty scaled 6000 points level after long time and touched 52-week high of 6006 in intraday trade. At closing bell, NSE Nifty was up by 42 points at 5994 and BSE Sensex was inching towards 20k mark with gain of 125 points.
Indian markets entered year 2013 on positive note as investor sentiment was strong after US fiscal cliff was averted and stock markets across the globe jumped.
Indian Stock market was trading flat on Monday morning. The BSE Sensex was marginally down at 18733 and NSE Nifty was down by 4 points at 5693. Asian markets were trading lower. Hang Seng was down by 0.3% at 22031, Straits Times was down at 3031 and Nikkei 225 was down by half per cent at 9007.
Among Indian stocks, ACC was up by nearly 2 per cent at Rs 1434. Dr Reddy's Labs and Cipla were up by 1.5% each. Kotak Mahindra Bank was also among major gainers at Rs 620.
Bajaj Auto Ltd. will launch the most expensive and technologically most advanced motorcycle in the 100cc segment in January 2013, a senior executive from the leading two-wheeler manufacturer has announced.
Speaking to reporters, Bajaj Auto President (Motorcycle Business) K Srinivas said, "It will be the most expensive 100cc bike ever launched and will be the most advanced technologically."
JK Lakshmi Cement reported strong performance during second quarter of current financial year. The stock was trading 5 per cent higher and touched 52-week high in today's trade. The company reported Q2 net profit at Rs 50 crore compared to Rs 6.5 crore during same quarter last year. Sales were higher at Rs 491 crore compared to Rs 354 crore. ACC and UltraTechCement were marginally higher while Ambuja Cements was trading lower.
Two-wheeler giant Bajaj Auto on Tuesday posted a year-on-year decline of 14 per cent in overall sales for the month of September.
In its sales statement, Bajaj Auto confirmed that it sold 360,152 units in September this year, down from 417,686 units in the corresponding period of the previous year.
The auto giant held this year's late festive season along with sluggish market conditions responsible for the decline in sales.
Japan-based auto manufacturer Nissan has ruled out any future partnership with Bajaj Auto on a planned ultra low-cost car project.
Pune-based Bajaj Auto had reached an agreement with Nissan and its French partner Renault on a project for sourcing of an inexpensive car. Under the terms of the agreement, the Indian automaker would manufacture the inexpensive car for Renault-Nissan, which would sell the car under their brands.
The car industry of India is undergoing difficult situation and needs urgent help, industry lobby group Society of Indian Automobile Manufacturers (SIAM) said.
Sugato Sen, senior director at SIAM, urged the government to lend a helping hand to the industry, saying the various segments of the industry had been suffering decline in sales.
Speaking on the topic, Mr. Sen said, "Car sales are under pressure, two-wheeler sales have gone down and medium-and heavy-duty commercial vehicle volumes are down. The industry needs urgent help to come out of this situation."
Indian two-wheeler industry suffered decline in sales for the first time in more than three years in August this year, mirroring the prevalent slowdown in the country's economy.
Manufacturers sold a little less than 1.2 million scooters and motorcycles in August this year, 5.5 per cent less than the 1.3 million sales in the corresponding month of 2011.
Stocks in two-wheeler companies slipped as investors are concerned over declined sales.
A survey conducted by IIFL Institutional Equities has revealed that demand for two-wheelers has worsened this year, and major manufacturers like Hero and Bajaj dealerships have inventories at a high of up to 40 days.
Brokerage firm UBS earlier this month removed Hero Moto from its model portfolio. It revised its target price on Hero Moto Corp to Rs 2,350 as it expects sales to decline further.
Indian Stock Market closed at five month high on Monday. The BSE Sensex remained flat during most of the trading session but inched up in the last one hour of trade. BSE Sensex closed 75 points higher at 17633 and NSE Nifty closed at 5347, registering a gain of 27 points.
CRISIL Research has cut India GDP growth forecast to 5.5 per cent for 2012-13 based on lower foreign investment inflows to the country. The report has reduced the estimates from earlier 6.5% GDP growth.
CRISIL report also expects the WPI inflation to remain higher at 8 per cent. Indian economy is already struggling lower growth. The policy in-action of UPA government will result in lower foreign investment and can reduce growth in various sectors.
- Decision on gas price revision taken under RIL’s coercion: Dasgupta
- Government to pay $8.1 billion fuel subsidy in fourth quarter
- Oil firms falls as government considers export parity pricing model
- Essar Oil to sign $1 billion financing co-operation deal with CDB
- ONGC may sell stakes in deep-water blocks to Shell