Mumbai: Bajaj Auto on Monday claimed that it has become the first Two-wheeler company globally to cross a market capitalization of INR 1 lakh crores. The share price of Bajaj Auto Ltd, closed at Rs 3479 per share on NSE on 1st January making its market capitalization Rs. 100,670.76 crore at this price. The shares of Bajaj Auto were at Rs. 3487.20, up 0.15% on NSE at 10.30 am Monday.
“This market cap is considerably higher than all other domestic two-wheeler companies. As per analysts, a market capitalization of over INR One lakh crores has not been achieved before by any international two-wheeler company anywhere in the world. Thus, Bajaj Auto is not only the most valued company in the two-wheeler segment, but also the first ever Two-wheeler Company in the world to have reached the milestone of a market cap of over INR One Lakh Crores” said Bajaj Auto.
Bajaj Auto has reported 11% growth in its total sales at 372,532 units in December as compared to 366055 units in December 2019. It two-wheeler sales has increased by 19% to 338,584 units mainly due to higher export sales, which has increased by 30% to 209,942 units. However, the company has witnessed 34% drop in its commercial vehicle sales at 33948 units. The company’s domestic commercial vehicle sales dropped by 62% to 10964 units in December.
During the April-December 9 months period, Bajaj Auto has registered 23% drop in overall sales at 2,803,250 units. While, two-Wheeler sales has dropped by 17%, commercial vehicle sales slipped 54%.