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Bajaj Auto inches up on signing MoU with the Government of Maharashtra

Bajaj Auto is currently trading at Rs. 3275.75, up by 6.45 points or 0.20% from its previous closing of Rs. 3269.30 on the BSE.

The scrip opened at Rs. 3276.00 and has touched a high and low of Rs. 3294.45 and Rs. 3261.75 respectively. So far 4895 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 3383.90 on 08-Dec-2020 and a 52 week low of Rs. 1793.10 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 3363.45 and Rs. 3174.25 respectively. The current market cap of the company is Rs. 94602.76 crore.

The promoters holding in the company stood at 53.69%, while Institutions and Non-Institutions held 23.97% and 22.34% respectively.

Bajaj Auto has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to set up a manufacturing facility on a proposed investment of Rs 650 crore in Chakan, Maharashtra. The facility is expected to commence production in 2023. This facility will be utilized for manufacturing high end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak.

Under the arrangement, the Government of Maharashtra will facilitate the company in obtaining necessary permissions/ registrations/ approvals/ clearances/ fiscal incentives etc. from the concerned departments of the State, as per the existing policies/ rules and regulations of the Government of Maharashtra. The proposed investment further reinforces the commitment of the company to the State of Maharashtra where the journey began.

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.

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