Mumbai, January 1
Pune-based Bajaj Auto on Friday said it has become the first two-wheeler company globally to cross a market capitalisation of Rs 1 lakh-crore (around USD 13.6 billion).
This market valuation is considerably higher than all other domestic two-wheeler companies, Bajaj Auto said in a statement.
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, it added.
The company’s share closed at Rs 3,479 on NSE on Friday, giving it a market capitalisation Rs 1,00,670.76 crore.
Bajaj Auto has achieved this milestone as it celebrates the 75th year of its operations, it 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.
“This inspires us even more to serve and delight customers all over the World,” Bajaj Auto Managing Director Rajiv Bajaj said.
TPM (total productive maintenance) is a holistic approach to equipment maintenance that strives to achieve perfect production.
Bajaj Auto, the world’s third-largest manufacturer of motorcycles and the largest manufacturer of three-wheelers, has its manufacturing facilities at Chakan near Pune, Waluj (Aurangabad) and Pantnagar (Uttrakhand).
It recently announced setting up of its fourth plant at Chakan at an investment of Rs 650 crore for manufacturing premium segment bikes and electric two-wheelers. PTI