Bajaj Auto unions allege that management is not using CSR funds for welfare activities.
The union had threatened to go on strike on April 28, but later deferred the proposed strike till May 15.
Tata Motors on Wednesday said it has extended warranty and free service period by one month for those commercial vehicle customers whose tenures are due between April 1 and June 30 amid the second wave of COVID-19 pandemic. Bajaj Auto, too, extended the free service period of all its brands in the country till July 31. In view of the restrictions announced by several state governments across the country to curtail the spread of the COVID-19 virus, Tata Motors has extended warranty and free service period for all its commercial vehicles that were scheduled to expire in the period of April 1 to June 30, 2021.
Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6423 EV registrations compared to 6466 registrations by Ather.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Bajaj Auto workers at the Chakan plant called off their strike on Tuesday after 50 days of agitation.
Three additional vehicle makers and five more auto component makers will begin availing financial incentives under the production-linked incentive (PLI) scheme for the automobile sector from 2026-27 (FY27) onwards, Hanif Qureshi, additional secretary at the Ministry of Heavy Industries (MHI), said on Wednesday.
Bajaj Auto Ltd (BAL) on Tuesday said workmen at its Chakan plant have "stopped coming" to work thereby affecting production following the management's refusal to allot them shares at discounted price.
Sobha Puravankara is yet to explain to the safety lapses found by the DGCA.
The production-linked incentive (PLI) scheme for the automobile sector has created market distortions, excluded innovation-led electric two-wheeler (e2w) makers, and failed to convert cost advantages into export competitiveness, with 77 per cent of export volumes driven by non-PLI models, said a report released by the Centre for Domestic Economy Policy Research (C-DEP) on Friday.
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
Rajiv Bajaj, the managing director of Bajaj Auto, on Thursday, reacted strongly to the threat by the company's trade union of going again on strike from April 28.
After months of negotiations and intermittent unrest impacting production, Pune-based Bajaj Auto and its Chakan plant unions have finally reached a wage agreement.
The electric Chetak has already sold close to 25,000 units in India, and the European version will be based on the same platform.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
The production at Bajaj Auto's Chakan plant near Pune remained crippled on Wednesday as the agitation by company's nearly 2,000 employees over wage revision and other demands continued for the second day.
In doing so, Bajaj has become the first internal combustion engine two-wheeler company to launch an all-electric two-wheeler in India.
'Rahul inspired Indian industry with an ethos, an ethos of being more confident, more independent, more thorough, more competitive, more generous, more public-spirited, and more national and more international all at once,' remembers Naushad Forbes.
Tesla's official entry into the Indian market is expected in the final quarter of the current financial year.
In an eventful week ahead, stock market investors will take cues from major events like the US Federal Reserve's interest rate decision, the upcoming Union Budget and Q3 earnings, analysts said.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
Confirming that the company could shift its production to other facilities, Bajaj Auto Managing Director Rajiv Bajaj told Business Standard: "If we take a view that this (labour issue) is going to extend over the next two months, we certainly can do that, and will do that."
The state is also the biggest market for TVS, another incumbent player, and together with Bajaj Auto, they accounted for 88 per cent of Maharashtra's total electric scooter sales last month. As many as 8,417 units were sold in Maharashtra in September. Bajaj Auto's contribution was 4,048 vehicles and that of TVS was 3,389, according to model- and state-wise data from the Society of Indian Automobile Manufacturers (Siam).
The company has already shifted production to Aurangabad.
Striking workers lacked support in the Pimpri-Chinchwad-Chakan belt.
Bajaj blamed a 'few rotten eggs' for the strike.
The Bajaj Auto management and its union on Friday came to the negotiating table in a bid to end the four-day-old strike by over 1,500 workers at the Chakan plant demanding wage revision and better working conditions apart from a hefty paring of the companies shares with employees.
Bajaj Auto's plant in Chakan has been shut for three days.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
'I suggest Rahul Bajaj come out in the open and give us his own white paper on the perceived sense of fear that he thinks haunts corporate India,' says Dr Sudhir Bisht.
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
Automaker to shift 200-300 workers from its Pantnagar facility to handle increased manufacturing.
Dr Reddy's, Maruti, Bharti Airtel, Bajaj Auto, Infosys, TCS and Bajaj FinServ were the major losers. On the other hand, IndusInd Bank, Sun Pharma, ICICI Bank and HDFC Bank ended with gains.
On the Sensex chart, Reliance Industries fell 5.36 per cent, followed by IndusInd Bank, HCL Tech, Asian Paints, UltraTech Cement and PowerGrid - dropping as much as 4.72 per cent. Among the gainers were Axis Bank, Sun Pharma, Bajaj Auto, Bajaj FinServ, HDFC Bank and Dr Reddy's.
Axis Bank was the top gainer in the Sensex pack, rallying over 4 per cent, followed by ICICI Bank, UltraTech Cement, HUL, SBI, PowerGrid, Bajaj Auto and Reliance Industries. NSE Nifty jumped 143.65 points to 14,485.
Top losers in the Sensex pack included SBI, Tata Steel, Hero MotoCorp, Bajaj Auto, ONGC and IndusInd bank.
Bharti Airtel, Bajaj Finance, Bajaj Auto, Reliance Industries, Tata Motors, SBI, HUL, NTPC, ONGC, ITC and Asian Paints rose up to 2.19 per cent.
The Maharashtra government can do little beyond using its good offices to pursue the Bajaj Auto management to revive production at its mother plant in Akurdi, near Pune.
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