Bajaj Auto Stock: New Flagship Pulsar Launch Today, Shares Extend Gains

by | May 6, 2024 | 0 comments

Bajaj Auto stock has risen by 33% since the beginning of this year and almost doubled in the last twelve months, far outperforming NSE Nifty 50.

The Pune-based firm’s shares rose over 1% to Rs 9,242 in early trade on May 3 ahead of launch of a new version of its popular Pulsar motorcycle later in the day.

This fiscal has been stellar for Pulsar on multiple counts. Not only did it record highest ever sales volumes but also emerged as a major Rs 10,000-crore brand.

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During a conference call after Q4 results announcement, Bajaj Auto said it plans to introduce six new models in H1FY23 starting with NS400 Pulsar. The model will have the largest engine yet at 373cc aimed at maintaining company’s market leadership.

Further, it is preparing to launch world’s first CNG powered motorcycle that could save significant commuting costs.

“Fuel efficiency-oriented customer segment between 100 cc and 125 cc constitutes more than 600k units monthly. Over 60% of these are supported by CNG infrastructure which provides sizeable opportunity. With this initiative we would be present across all motorcycle segments continuing to grow faster than industry,” the management said.

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Bajaj Auto Stock performance has also left behind competitors such as Hero MotoCorp and Eicher Motors among others.

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