The IPO boom in 2023 added four new promoters to the billionaires' list.
After signing the agreement documents on Tuesday night, the Shishir and Rahul Bajaj factions submitted the consent terms of the settlement to the Company Law Board on Wednesday and withdrew the petition.
Sun Pharma, Bajaj Finserv, Tata Consultancy Services, Infosys, Hindustan Unilever, JSW Steel, Wipro, Maruti, HCL Technologies, Tech Mahindra and ICICI Bank were the other major gainers. State Bank of India, Tata Motors, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Tata Steel, Nestle and HDFC Bank were the laggards.
Equity benchmark indices Sensex and Nifty ended almost flat in highly volatile trade on Thursday amid the lack of any immediate trigger. The 30-share BSE Sensex dipped 5.43 points or 0.01 per cent to settle at 66,017.81. During the day, it hit a high of 66,235.24 and a low of 65,980.50.
The Bajaj Pulsar 150 classic is Rs 10,118 cheaper than the standard Pulsar 150.
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
In the backdrop of the crisis brewing at Paytm Payments Bank, major fintech companies are ramping up their workforce and inducting new faces in their leadership teams, industry sources said on Wednesday. Users will not be able to add funds to their Paytm Payments Bank Wallet after February 29, though they will still be able to use the services and the existing balance in the wallets, according to the Reserve Bank of India (RBI) diktat. Industry sources said that competitors to Paytm are investing heavily in offline payments while doubling their salesforce.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Analysts expect Bajaj Auto to perform well in Q1.
The company is also ramping up production at its Pantnagar facility, where it enjoys a 10-year tax holiday, and expects to achieve full capacity utilisation in the next five-six months. BAL has three plants with a total installed production capacity of 2.2 lakh units a month, while on an average it produces 1.6 lakh units.
Differences still persist between Rahul Bajaj, his brother Shishir Bajaj and others on the issue of transfer of shares for finalisng the split of the Bajaj group, the Company Law Board has been informed by the lawyers.
Bajaj Auto, the country's second largest two-wheeler manufacturer, may cut production as it sees a slowdown in motorcycle sales after the current festival season.
Automaker to shift 200-300 workers from its Pantnagar facility to handle increased manufacturing.
Bajaj Industries chairman Rahul Bajaj on Thursday said the government should change the archaic land acquisition rules in India to deal with contentious issues like Singur.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
Opposition to the idea of quadricycles is a story of sour grapes, says Rajiv Bajaj.
Benchmark equity indices Sensex and Nifty settled with marginal gains on Thursday in a highly volatile trade amid the scheduled monthly derivatives expiry and muted trend in the US markets. The 30-share BSE Sensex closed 86.53 points or 0.13 per cent higher at 66,988.44, registering its third day of gains. During the day, it hit a high of 67,069.89 and a low of 66,610.35.
An out-of-court settlement for division of the Bajaj empire appears unlikely anytime soon, with patriarch Rahul Bajaj accusing younger brother Shishir on Thursday of raising additional demands that cannot be met.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
Citing Section 144 CrPC was in force in parts of Sandeshkhali and it would not be prudent to allow them access to the area even in groups of four-five, senior police officers stopped their convoy at the Bhojerhat area, which is around 52 km from the riverine area, on Basanti Highway.
Bajaj Auto expects to launch its small car in the next four years in partnership with Renault and Nissan.
Bajaj Auto has launched a new range of passenger three-wheelers, with improved mileage, changed styling and lower maintenance costs.
KTM has quite a long history, but the upshot is that the company is famous for its off-road motorcycle prowess and is rapidly gaining respect for its excellent street bikes as well. The street bikes are a recent phenomenon, which with Bajaj's equity intervention, should be of great interest to us as well.
Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
Among the Sensex firms, Hindustan Unilever, Tech Mahindra, Infosys, Reliance Industries, Bajaj Finance, Tata Consultancy Services, Titan and UltraTech Cement were the major laggards. Mahindra & Mahindra, Power Grid, IndusInd Bank, Tata Motors, Larsen & Toubro and Maruti were among the gainers.
Among the Sensex firms, Asian Paints, Titan, Larsen & Toubro, JSW Steel, ITC, Hindustan Unilever, Maruti and Reliance Industries were the major gainers. ICICI Bank, NTPC, Infosys, Tech Mahindra, Tata Steel and Bajaj Finance were among the laggards.
The long wait for Bajaj Auto's much-hyped, all-new Pulsar 150 is over.
The Pulsar 150 AS is positioned as an adventure tourer+commuter motorcycle with a ton of goodies, says Indian motoring website MotorBeam.
Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards. Infosys, JSW Steel, NTPC and Power Grid were the gainers.
The Pune-based company pointed out that the Chinese manufacturer Taian Chiran Machinery Co and its Sri Lankan distributor were recently instructed by a Sri Lankan court to withdraw their copy of Bajaj Pulsar with DTSi technology from the market.
Not ready to be bogged down by competitive pressures despite strain on margins, Bajaj Auto has said it was ready to meet any kind of price war "head-on" and could even afford a further reduction in prices.
According to industry sources, the company has contacted customers who bought the 125cc XCD to replace faulty electronic components for self start and head lamps along with a part of 'noisy' centre-stand.The company had last month launched the 125cc XCD, which it claims clubs features of a 150cc bike with the mileage of a 100cc motorcycle, at Rs 41,000 (ex-showroom).
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.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
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