India's Bajaj Auto on track to log best month in over six years
BUZZ-India's Bajaj Auto on track to log best month in over six years ** Shares of India's Bajaj Auto BAJA.NS up 18.5% at 11,511 rupees so far this month--biggest percentage jump since April 2020
** BAJA third biggest pct gainer on the NIFTYAUTO .NIFTYAUTO index in July
** Automaker reported a 42.3% rise in Q1 profit to 29.83 billion rupees ($312.69 million)
** Analysts optimistic on co's margin defence amidst rising commodity costs; upbeat about export growth
** On July 6, India's autodealers body said two-wheeler category saw a 4.73% rise y/y in retail volumes in June, sale of electric two-wheeler share in category sales rose to 10.6%
** BAJA said it plans to launch electric motorcycles in FY26 and expand production of Chetak EV scooter
** YTD, stock up 23.25% vs NIFTYAUTO up 21.59%
($1 = 95.3975 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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