With the market capitalisation crossing Rs 1 lakh crore (approx USD 13.6 billion), Bajaj Auto has become the most valuable two-wheeler company in the world.
On January 1, the auto giant’s share price closed at Rs 3,479 on the National Stock Exchange (NSE), taking its market cap to ₹ 1,00,670.76 crore thereby becoming the first company in the world to have a market capitalisation over ₹ 1 lakh crore.
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Bajaj quoted analysts claiming that a market capitalisation of over ₹ 1 lakh crore has not been achieved by any other company in the world.
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The development comes as the scooter company is marking 75 years of operations.
“The company’s sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe. This inspires us even more to serve and delight customers all over the world,” said Rajiv Bajaj, Managing Director of Bajaj Auto.
The company dominates the two-wheeler market segment in India and exports its vehicles to over 70 countries.