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Bajaj Auto gains 3% on plans to expand 3 wheeler & quadricycle capacity

Bajaj Auto announced its plan to expand 3 wheeler & quadricycle capacity to 1 million per year as Government announces end to permits.

SI Reporter  |  Mumbai 

Quadricycles get nod after 6-year battle within automobile industry to stop Bajaj's product
Quadricycles get nod after 6-year battle within automobile industry to stop Bajaj’s product

Shares of were up by 3% at Rs 2,875 per share on the in an otherwise weak market after the company announced its plan to expand 3 wheelers & to 1 million per year as Government announced an end to

At the (SIAM) convention on Thursday, the Minister for Transport, Nitin Gadkari made a historic announcement moving to a "no-permit" regime for auto rickshaws powered by alternative fuels.

Over the last 12 months, there has been an upsurge in three-wheeler demands in India, owing mainly to released in Maharashtra, Karnataka, AP, and Delhi. Consequently, during the period September 2017 to August 2018 has sold 435,000 three wheelers representing a growth of 88% and has strengthened its leadership in this segment.

“Bajaj is the market leader with 86% market share in the alternate fuel 3 wheelers. This announcement is a further fillip for the Bajaj Qute, which comes with CNG / LPG fuel options, as more and more state governments approve the Qute for taxi applications,” said in a press release.

At 09:26 am; Bajaj Auto was trading 2.8% higher at Rs 2,861 on the BSE, as compared to 0.29% decline in the S&P Sensex. A combined 226,452 equity shares changed hands on the counter on the and so far.


First Published: Fri, September 07 2018. 09:28 IST
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