Bajaj Auto share price at an all-time high boosted by strong demand for Triumph Speed 400, Scrambler 400X
Bajaj Auto share price rose 2.5 per cent to hit its fresh all-time high of ₹4,950 in morning trade on BSE on Monday, July 10 after suffering a loss of about 2 per cent in the previous session. The stock witnessed decent traction after the company said bookings for the newly launched motorcycles Triumph Speed 400 and Scrambler 400X crossed the 10,000 mark. As per media reports, the company is looking to ramp up production due to the strong response from buyers.
As Mint reported earlier, Bajaj Auto unveiled its Triumph Speed 400 and Scrambler 400X motorcycles in India last week. The bikes were first unveiled globally on June 27. Within days of the launch, the duo reportedly got 10,000 bookings in the country.
According to CNBC 18, Bajaj Triumph Speed 400 and Scrambler 400X bikes have achieved 10,000 bookings in India within 10 days of the global launch. The Bajaj-Triumph Speed 400 costs ₹2.33 lakh (ex-showroom). The motorcycle will be available in the country by the end of July.
The company, however, has not revealed the price of Scrambler 400X. It is most likely to be announced later. The motorcycle will be up for sale in October later this year.
Read more: Bajaj Triumph Speed 400 and Scrambler 400X gets 10,000 bookings in India: Report Meanwhile, Bajaj Auto is setting up a wholly-owned subsidiary, Bajaj Auto Consumer Finance, and has applied to the Reserve Bank of India for a non-banking financial company (NBFC) licence. This follows the automaker’s erstwhile captive finance company Bajaj Finance Ltd diversifying into financing two-wheeler purchases of non-Bajaj Auto brands. Read more: Bajaj Auto seeks RBI nod for new NBFC as Bajaj Fin diversifies Shares of Bajaj Auto have clocked decent gains in the last one year.
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