(MENAFN – IANS) p>New Delhi, Jan 1 (IANS) Bajaj Auto’s market capitalisation crossed Rs 1 lakh crore on Friday.
The share price of Bajaj Auto closed at Rs 3,479 per share on the NSE, making its market capitalisation Rs 100,670.76 crore at this price.
“This market cap is considerably higher than all other domestic two-wheeler companies. As per analysts, a market capitalisation 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 statement.
“Thus, Bajaj Auto is not only the most valued company in the two-wheeler segment, but also the first ever two-wheeler company in the world to have reached the milestone of a market cap of over Rs 1 lakh crore.”
At present, the company’s brands like Pulsar, Boxer, Platina and RE are being sold in over 70 countries around the world.
“The global footprint is being continuously expanded with entry into Thailand this year and a proposed entry into Brazil next year,”the statement said.
“Bajaj Auto revived its iconic brand Chetak and launched a premium, stylish electric scooter earlier in the year to an overwhelming response.”
Recently, it announced a major investment of Rs 650 crore in a fourth plant to be built in Chakan, Maharashtra for premium range of motorcycles and electric two-wheelers.
Commenting on the milestone, Rajiv Bajaj, Managing Director, Bajaj Auto, 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 combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe.”
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.