Pune-headquartered Bajaj Auto share price advanced over a percent to Rs 9,242 in morning trade on May 3 as the company is set to launch new variant of its every-popular motorcycle, Pulsar, later today.
It's been a staggering FY24 for the Pulsar for two main reasons — clocking the highest-ever volume during the year and becoming a massive Rs 10,000-crore brand.
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In a conference call after declaring the Q4 results, the company highlighted that it will launch six new models in the first half of FY25, beginning with the new NS400 Pulsar, which will come in its biggest engine avatar yet at 373cc, ensuring that the company sets a "relentless pace and is always top of mind of this customer."
Furthermore, the two-wheeler and three-wheeler major is also gearing up to introduce the world's inaugural CNG-powered motorcycle, aiming to slash commuting costs by half.
"The mileage-conscious customer is spread across the 100 cc to 125 cc commuter segment and is well over 600,000 units per month. Over 60 percent of this is covered by the CNG infrastructure, hence the opportunity is exciting. With this, we will have a position in all the motorcycle segments setting us up to continue to grow faster than the industry," the management said.
Bajaj Auto shares have surged by 33 percent since January this year and nearly doubled in the last 12 months, outpacing the NSE Nifty 50 by a healthy margin. Its rally has also outpaced that of Hero MotoCorp and Eicher Motors.
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