Bajaj Auto shares continued to rise, reaching a fresh record high of Rs 11,894 on September 13, up more than 1% for the fifth straight day. The Union Cabinet’s approval of the PM E-Drive initiative, which will spend Rs 10,900 crore over two years to encourage the use of electric vehicles (EVs) in India, is the reason for the positive attitude.
In order to encourage the use of battery-powered two- and three-wheelers, ambulances, trucks, and other cutting-edge electric vehicles, the initiative gives incentives totaling Rs 3,679 crore.
In the last year, the market value of the company has increased by 145%, while the BSE Sensex has increased by 21.6% within the same time frame.
When compared to its competitors, Bajaj Auto performed much better, driven mainly by robust growth in the domestic market. With 3.35 lakh units overall, the company’s Y-o-Y growth was 18%.b
Bajaj Share Price 2024
August 2024 saw a 16.4% YoY increase in total volumes at Bajaj Auto, with 3.97 lakh units sold. The domestic segment rose at a solid rate of 23.8 percent YoY, while exports increased by 5.4 percent YoY.
Source: News18India
