Bajaj Auto up on legal victory

DALAL STREET SPIKES

Bajaj Auto gained above 9 per cent over its previous close of Rs 2,825.45 to close at Rs 3,080.30. Over 3.75 lakh shares changed hands on the counter.

The surge followed the news of a victory in a lawsuit against Sri Lankan importer Ranatunga Motor and Chinese manufacturer Taian Chiran Machinery for imitating the Pulsar 180.

The imitation motorcycle, Ranamoto Gulsar, is a Chinese-made bike manufactured in the Taian hi-tech development zone of Shandong. Bajaj Auto sells about 1,000 Pulsar motorcycles, which form part of the 5,000-6,000 motorcycles sold in Sri Lanka each month.

The company's sales by 13 per cent, increase in its two- and three-wheeler exports, in January 2007 as compared with the same period last year. The growth in the domestic sales was recorded at 13 per cent.