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Rahul Bajaj Step down, Become Non-Executive Chairman of Bajaj Auto

30Jan By AdityaNo Comments

BUSINESS

Rahul Bajaj Step down, Become Non-Executive Chairman of Bajaj Auto

Bajaj Auto's long serving Chairman Rahul Bajaj will step down from executive role to become a non-executive director while continuing to hold his current position, the company said on Thursday. Bajaj, who has been a director of the company since April 1, 1970, was last reappointed by the board for a five-year term with effect from April 1, 2015, and his term as executive chairman is expiring on March 31, 2020, the company said in a regulatory filing. "Due to certain commitments and other pre-occupation, Rahul Bajaj has decided not to continue as a whole-time director of the company after the expiry of his current term on March 31, 2020," it added. Bajaj Auto further said its board of directors in a meeting held on Thursday approved his appointment as non-executive director with th...

BS-VI transition lead to dumping of old Two Wheelers in India

1Jul By PriyankaNo Comments

Automobile

BS-VI transition lead to dumping of old Two Wheelers in India

New Delhi: Terming the transition to Bharat Stage VI (BS-VI) emission norms from April next year as "joker in the pack", Bajaj Auto Ltd has cautioned that there could be dumping of old BS-IV stock in the domestic market, triggering an "unwarranted price war" in the second half of the ongoing fiscal. In its Annual Report for 2018-19, the Pune-based firm said while its motorcycles, three-wheelers and quadricycles will be "fully BS-VI compliant not just on April 1, 2020 but some months earlier, it is difficult to anticipate the state of BS VI readiness of our competitors". "For the industry as a whole, we believe that the joker in the pack will be the tough Bharat Stage VI, or BS VI, emission norms that will come into play from 1 April 2020," the company wrote to its shareholders. ...

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

22Mar By Press Trust of IndiaNo Comments

Automobile

Pierer Industrie in talks with Bajaj Auto for 48% stake in KTM

New Delhi: Bajaj Auto and Pierer Industrie AG have started discussions to assess the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG. As per the offer, Pierer Industrie still retains the controlling majority over KTM Industries AG. "Pierer Industrie AG and Bajaj will now evaluate the proposals in detail. The transaction decision is targeted to be made in the second quarter of 2019," Bajaj Auto said in a regulatory filing Thursday. At present, Pierer Industrie AG holds approximately 62% of the shares of KTM Industries AG. The listed company KTM Industries AG holds approximately 51.7% of the shares of KTM AG. "If Pierer Industrie AG and Bajaj decide to execute the transaction, KTM Industries AG will examine the legal and economic requirements and cond...

31Aug By Gauri SinghNo Comments

Market

Top 5 Performing Shares in 2018 Stock Market

In the past few months, we have been witnessing various companies that went public and entered the stock market. What actually is a stock? Well, the capital raised by a company or corporation through the issue and subscription of shares is known as stock. When a company lists itself on the stock market, it can raise funds from the public by the issue of its shares. A stock market is a place where shares of publicly listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering. The people, especially the beginners are generally confused about which stock they should buy. The best strategy to get success in those fields would be to play safe and take the safest route to achieve goals. After a good examination of the ...

Bajaj Auto Announces Rs 2 Cr Contribution for Kerala Flood Relief

22Aug By Press Trust of IndiaNo Comments

Automobile, News

Bajaj Auto Announces Rs 2 Cr Contribution for Kerala Flood Relief

India's one of the leading automobile company Bajaj Auto announced a contribution of Rs 2 crore in aid of flood-hit Kerala. While Rs 1 crore is being contributed directly to the Chief Minister's Relief Fund, the balance Rs 1 crore will be deployed by Jankidevi Bajaj Gram Vikas Sanstha (JBGVS), for distribution of survival kits, the company said in a statement. The contribution is in addition to the Rs 50 lakh already contributed by various Bajaj Trusts, it added. JBGVS is an institution that undertakes various corporate social responsibility initiatives of Bajaj Auto. "Through this amount, Bajaj Auto aims to support at least 1,000 families with a basic startup kit for those who have been affected by the floods," the statement said. Bajaj Auto President (Intra-city Business) ...

Ducati Sale Rumors Reawakened, Find out the Bidders

18Apr By Lavina TolaniNo Comments

News

Ducati Sale Rumors Reawakened, Find out the Bidders

While the German automotive leader Volkswagen Group has appointed a new CEO last week, rumors catering to the sale of its motorcycle owned brand Ducati are all buzzing around in the automobile market. The Volkswagen Group which is a part of Porsche Automobil Holding SE has appointed Herbert Diess as its new CEO replacing Mathias Muller. Diess who has worked with BMW before addressed the press conference while discussing the new management structure with executives managing multiple platforms at the same time. Last year too there were rumors floating about Volkswagen selling its multiple brands, including Ducati, in order to raise capital that could cover company's Dieselgate liabilities. But, it suffered huge resistance from trade unions including Volkswagen Labour unions who were ag...