Bajaj Auto stock jumps after launch of world's first CNG-powered bike

Shares of Bajaj Auto jumped over 2 percent on July 5 after the company launched the world’s first CNG-powered bike.

The stock price of the automaker closed at Rs 9,634.1 on July 5, on the National Stock Exchange, up 1.83 percent from the previous close.
The two-wheeler maker’s new offering Freedom 125 starts at an ex-showroom price of Rs 95,000, the company said. The top variant will cost Rs 1.1 lakh.

To begin with, Freedom 125 would be available in Maharashtra and Gujarat and in the rest of the country by early new quarter, the automaker said.
The motorcycle was unveiled by Rajiv Bajaj, managing director of Bajaj Auto, in the presence of Union road transport and highways minister Nitin Gadkari in Pune. It has flexible fuel options, featuring two separate switches for petrol as well as CNG.

Rakesh Sharma, executive director of Bajaj Auto, said, "The Bajaj Freedom 125 showcases the firm's R&D and manufacturing prowess. Through innovation the company has addressed the twin challenge of reducing rising fuel costs and reducing the environmental footprint from travel."
The two-wheeler maker's new bike offers approximately 50 percent cost savings by significantly reducing fuel expenses, as compared to similar petrol motorcycles.