Company Profile

Bajaj Auto has reached an agreement its Austrian partner Pierer Industrie AG for simplifying their shareholding pattern in premium bike maker KTM through a two-step transfer of their stakes to a new holding company. Earlier, PIERER Mobility AG (PMAG) and Bajaj Auto's 100 per cent Netherlands subsidiary, Bajaj Auto International Holdings BV (BAIHBV), held 51.7 per cent and 48 per cent respectively in KTM AG. Pierer Industrie AG holds over 65.29 per cent in PMAG.

Under the agreement, BAIHBV will swap 46.5 per cent out of its 48 per cent stake in KTM AG, for a stake in PlW Holding, a 100 per cent subsidiary of Pierer lndustrie. As a second step, PlW Holding will later contribute its 46.5 per cent stake in KTM AG to PMAG, for fresh shares to be issued by PMAG in lieu. After completion of both steps, Pierer lndustrie and BAIHBV will be stake holders in PlWHolding, with PMAG as its listed subsidiary. Subsequently, PMAG's stake in KTM AG would stand increased to 98.2 per cent. Bajaj Auto’s Board of Directors accorded its in-principle approval to this proposal.

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.

Vodafone Idea’s (VIL) enterprise arm -- Vodafone Idea (VIL), Vi Business has lined up a range of new postpaid plans for corporate customers. The upgraded plans will be bundled with range of exclusive benefits. Vi 'Business Plus' plans would enable corporate customers to strike the right balance between business objectives and employee preferences in an increasingly hybrid working environment.

U.S. based Adagio Therapeutics has granted an exclusive license to Biocon Biologics, a fully integrated biosimilars company and a subsidiary of Biocon, to manufacture and commercialize an antibody treatment based on ADG20 for India and select emerging markets. ADG20, a novel monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses, is in global clinical development by Adagio as a single agent for both the treatment and prevention of COVID-19, the disease caused by the SARS-CoV-2 virus, its variants, as well as future variants that may emerge.

Bajaj Auto has reached an agreement its Austrian partner Pierer Industrie AG for simplifying their shareholding pattern in premium bike maker KTM through a two-step transfer of their stakes to a new holding company.

GlaxoSmithKline Pharmaceuticals has decided to transfer its rights in relation to the Iodex and Ostocalcium brands to GlaxoSmithKline Asia, subject to shareholder approval, for an aggregate consideration of Rs 1649 crore. The transaction is expected to be completed before the end of the year, subject to shareholder approval and the customary closing conditions, including relevant regulatory approvals.

Prataap Snacks has commenced commercial production at its newly set up Unit situated at Mouza - New Kolorah, Police Station - Domjur, District - Howrah, West Bengal on July 26, 2021.

Sharika Enterprises has received the order from LS Cable India for Supply of Cable Accessories amounting 1.67 crore Including Taxes. Earlier, the company had received the order amounting Rs 4.23 crore.

Tata Power has committed to reducing emissions in alignment with the Science-Based Targets initiative (SBTi). SBTi is a project which drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets.

Bajaj Auto is currently trading at Rs. 3864.55, up by 11.95 points or 0.31% from its previous closing of Rs. 3852.60 on the BSE.

The scrip opened at Rs. 3899.00 and has touched a high and low of Rs. 3924.80 and Rs. 3826.45 respectively. So far 15235 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4361.20 on 04-Feb-2021 and a 52 week low of Rs. 2823.35 on 02-Nov-2020.

Last one week high and low of the scrip stood at Rs. 4012.80 and Rs. 3786.40 respectively. The current market cap of the company is Rs. 111581.37 crore.

The promoters holding in the company stood at 53.70%, while Institutions and Non-Institutions held 24.53% and 21.77% respectively.

Bajaj Auto has reported 2-fold jump in its net profit of Rs 1061.18 crore for the quarter ended June 30, 2021 as compared to net profit of Rs 528.04 crore for the same quarter in the previous year. Total income of the company reported 2-fold jump at Rs 7715.34 crore for Q1FY22 as compared Rs 3417.12 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 3-fold jump in its net profit attributable to owners of Rs 1170.17 crore for the quarter ended June 30, 2021 as against net profit of Rs 395.51 crore for the same quarter in the previous year. Total income of the company reported 2-fold jump at Rs 7715.34 crore for Q1FY22 as compared Rs 3417.12 crore for the corresponding quarter previous year.

Bajaj Auto’s board has approved the incorporation of a wholly owned subsidiary of the company. The wholly owned subsidiary will leverage the growth opportunities in the evolving mobility space and will help the company venture into the manufacturing of electric and hybrid vehicles in the 2 wheeler, 3 wheeler and light 4 wheeler categories.

Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.