Bajaj Auto expects to launch its small car in the next four years in partnership with Renault and Nissan.
In September, sales of 125cc models - that include the Hero Glamour, Splendor, Pulsar 125, Victor Star City, among others - grew by a whopping 30 per cent over the same period a year ago to 305,615 units.
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
Top gainers in the Sensex pack included SBI, Tech Mahindra, HCL Tech, Kotak Bank, IndusInd Bank, Asian Paints, Infosys and TCS, rising up to 2.31 per cent.
Bajaj Auto said it did not want to shut down its Akurdi plant and had no intention to use the Akurdi land for any purpose other than the company's automotives business.
Declining sales and sliding margins are compelling two-wheeler makers such as Bajaj Auto, Hero Honda and TVS Motors to rejig strategy, to cope with the slowdown.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
Tata Steel was the top loser in the Sensex pack, shedding over 2 per cent, followed by Sun Pharma, ICICI Bank, SBI, Kotak Bank and Dr Reddy's. NSE Nifty dropped 151.75 points to 15,727.90.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
ITC was the biggest gainer in the Sensex pack, rallying 3.14 per cent. Maruti Suzuki, Axis Bank, Hero MotoCorp, Vedanta, Asian Paints, M&M, HUL, Bajaj Auto and PowerGrid were among the other top gainers, rising up to 2.13 per cent.
With tax sops kicking in after the opening of its plant in Uttarakhand, two-wheeler major Bajaj Auto has slashed prices of its 100 cc model Platina by Rs 3000, ahead of its planned exit from the segment.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Facing the heat over the prospect of Tatas' Rs 1 lakh car affecting the two-wheeler market, Bajaj Auto on Monday said it may build cars to ward off the threat.
Top gainers in the Sensex pack included Yes Bank, Maruti, L&T, Kotak Bank, Bharti Airtel, Bajaj Finance, SBI, ONGC, HDFC and Hero MotoCorp, rising up to 4.47 per cent.
Two wheeler giant Bajaj Auto is all set to be carved into separate auto and finance entities, to be headed by group chief Rahul Bajaj's sons Rajiv and Sanjiv respectively.
After ruling the entry level segment with its 100cc motorcycles, the country's second largest two-wheeler maker Bajaj Auto Ltd has decided to exit the segment owing to relatively lower margins.
India's leading motorcycle maker Bajaj Auto on Monday introduced the new Discover 112 cc, looking to increase its market share in the 'Executive' segment of motorcycles in the domestic market.
The ultra-low-cost small car being jointly developed by Bajaj, Renault and Nissan is expected to hit Indian roads by 2010. Renault and Nissan CEO Carlos Ghosn, who was on a visit to Bajaj Auto in Pune on Monday, said that he hoped the prototype of the car will be completed by the end of this year. The car is expected to cost US $3,000 and will compete with Tata Motors' Rs 1 lakh car due next year.
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
Fuel efficiency was the platform that had been built by the market leader in the segment, fun was the Discover domain. By diluting the message, the brand lost its old customers and pushed potential buyers into the leader's fold.
"We expect to capture the top position in the premium segment with the new bike. We are also working on another bike in the premium segment," Hero Honda managing director Pawan Munjal told reporters in New Delhi.
In addition to new launches and restructuring across product segments, festival demand also aided growth.
The country's second-biggest bike maker Bajaj Auto today said it will launch CNG
Those that are developing quadricycles from scratch say it will take them at least two years to roll them out.
Tata Motors was the biggest gainer in the Sensex pack, rallying 2.94 per cent. It was followed by Vedanta, Bajaj Finance, Sun Pharma, ONGC, ICICI Bank, Bajaj Auto, Tata Steel, RIL, HDFC duo, L&T and SBI, rising up to 2.78 per cent.
Denying he was charting out succession plans for his two sons, Bajaj Auto chairman Rahul Bajaj on Monday said work was being divided between the two brothers - Rajiv and Sanjiv - for operational efficiencies.
Euro NCAP had said it was disappointed to see quadricycles, including the Bajaj Qute, lack basic safety features.
In the Sensex pack, Axis Bank, Tata Motors, Infosys, Kotak Bank, HDFC Bank, RIL, Bajaj Auto, SBI, HUL, Tata Steel, Vedanta, HFDC, TCS, ITC and Sun Pharma jumped up to 4.64 per cent.
Bajaj Auto on Friday reported a 36 per cent increase in its motorcycle sales for November at 2,14,321 units compared to 1,57,831 units in the same month last year.
IndusInd Bank was the top gainer in the Sensex pack, rising 2.68 per cent. ICICI Bank gained 2.68 per cent at close. Yes Bank, Tata Steel, SBI, TCS, L&T and Infosys also advanced.
Bajaj Auto said it was "concerned" that the Japanese auto giant Honda may have an "aggressive pricing strategy" with its planned entry into the country's motorcycle market in October. Bajaj also launched the CT 400 bike.
