Last Updated :
19 March 2010 at 11:15 IST
Bajaj Auto gears up for small car battle
MUMBAI (Commodity Online): India-based two-wheeler leader, Bajaj Auto Ltd (BOM:532977) is gearing up to foray into the cheapest car segment in joint venture with Nissan Motor Co (7201.TO) and Renault SA (RNO.FR) to make a car on the lines of Tata’s Nano and priced at around USD 2500.
Bajaj stocks gained on the Bombay Stock Exchange (BSE) after the news flashed in the media. The large-cap stock was trading at Rs.1869 up 1.6% from its previous close.
Bajaj Auto's total vehicle sales surged 75% to 2.68 lakh units in February 2010 over February 2009. The company's motorcycle sales soared 78% to 2.34 lakh units, while 3-wheeler sales advanced 59% to 33,968 units in February 2010 over February 2009. Exports increased 53% to 77,642 units in February 2010 over February 2009.
Bajaj Auto's net profit soared 189.2% to Rs 475.14 crore on a 57.9% rise in sales to Rs 3165.84 crore in Q3 December 2009 over Q3 December 2008.
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