Bajaj Auto shines on getting nod to incorporate wholly owned subsidiary
The wholly owned subsidiary will leverage the growth opportunities in the evolving mobility space
Bajaj Auto is currently trading at Rs. 3961.20, up by 57.15 points or 1.46% from its previous closing of Rs. 3904.05 on the BSE.
The scrip opened at Rs. 3935.00 and has touched a high and low of Rs. 4012.80 and Rs. 3881.00 respectively. So far 27956 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4361.20 on 04-Feb-2021 and a 52 week low of Rs. 2823.35 on 02-Nov-2020.
Last one week high and low of the scrip stood at Rs. 4012.80 and Rs. 3876.00 respectively. The current market cap of the company is Rs. 114689.17 crore.
The promoters holding in the company stood at 53.70%, while Institutions and Non-Institutions held 24.53% and 21.77% respectively.
Bajaj Auto’s board has approved the incorporation of a wholly owned subsidiary of the company. The wholly owned subsidiary will leverage the growth opportunities in the evolving mobility space and will help the company venture into the manufacturing of electric and hybrid vehicles in the 2 wheeler, 3 wheeler and light 4 wheeler categories.
Bajaj Auto is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.