BAJAJ-AUTO

Aug 7 (Reuters) - India's upcoming festive season is expected to lift near-term sentiment among auto dealers, but U.S. tariffs could dent consumer confidence, prompting higher household savings and weighing on discretionary spending, including vehicles, the Federation of Automobile Dealers Association (FADA) said on Thursday.

Vehicle dealers expect major festivals, including Rakhi, Janmashtami, Independence Day and Ganesh Chaturthi, along with targeted promotional schemes and healthy stock levels to drive sales.

However, the anticipated wealth erosion from fresh tariffs by the U.S. could erode consumer confidence, trigger a precautionary rise in household savings and exert pressure on discretionary spending, including on vehicles, FADA said.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Sonia Cheema)

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Aug 6 (Reuters) - Bajaj Auto Exec:

• RARE EARTH MAGNET SHORTAGE IMPACTED EV VOLUMES IN JUNE

• WILL BE LOSING VOLUMES IN EV BUSINESSES IN Q2 BECAUSE OF RARE EARTH ISSUE

• AT THIS POINT WE CAN DELIVER ONLY 50%-60% OF PLANNED E-SCOOTER DELIVERIES IN Q2

• FOR ELECTRIC 3-WHEELERS, CAN DELIVER ONLY 70%-80% OF PLANNED DELIVERIES IN Q2

• SHOULD BE IN POSITION TO DE-RISK CO FROM RARE EARTH SUPPLY CRUNCH BY END OF FY26

• EVALUATING HOW TO RE-DESIGN EV MOTORS WITH LIGHT RARE EARTHS

Further company coverage: BAJA.NS

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July 31 (Reuters) - Indian automaker TVS Motor Company TVSM.NS reported a better-than-expected first-quarter profit on Thursday, lifted by strong domestic demand for its two-wheelers and steady growth in overseas shipments.

The "Jupiter" scooter maker's profit jumped 34.9% to 7.79 billion rupees ($88.92 million) in the quarter ending June 30, beating analysts' estimate of 7.63 billion rupees, per data compiled by LSEG.

Two-wheeler retail registrations in India rose 5% in the quarter on upbeat demand, an industry body said earlier in July.

Overall, two-wheeler sales at TVS Motor rose 17% to about 1.2 million units in the June quarter, fuelled by a rising share of premium models, such as the Apache series, which account for roughly 25% of total revenues.

Analysts attribute this to a "richer product mix," where high-margin offerings like high‑cc bikes and scooters have gained traction over entry-level models.

This shift helped push core earnings higher, with operating EBITDA margin expanding to 12.5% in the first quarter, up from 11.5% a year earlier, driven by strong growth in scooter and bike sales.

Electric vehicle sales surged 35%, while exports, which make up nearly a fourth of the company's overall revenue, grew 39% in the reported quarter.

Revenue from operations rose 20.4% to 100.81 billion rupees, above analysts' estimate of 99.36 billion rupees.

Total expenses climbed 18.8%, driven by a 16.9% increase in cost of materials consumed.

Rivals Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS are yet to report results for the quarter.

Separately, the company said it will raise funds worth up to 5 billion rupees by issuing non-convertible debentures on a private placement basis.

($1 = 87.6060 Indian rupees)

(Reporting by Meenakshi Maidas and Chandini Monnappa in Bengaluru; Editing by Nivedita Bhattacharjee and Janane Venkatraman)

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July 7 (Reuters) - Geopolitical tensions and U.S. tariff-related spill-over effects could temper consumer sentiment, while rare earth curbs may further limit car supply and retail volumes, India's Federation of Automobile Dealers Association (FADA) said on Monday.

However, above-normal monsoons should bolster rural demand in the near-term, FADA said.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Sumana Nandy)

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July 1 (Reuters) - Bajaj Auto Limited BAJA.NS:

• BAJAJ AUTO LIMITED - REPORTS TOTAL SALES OF 360,806 UNITS FOR JUNE 2025

Source text: ID:nBSExd9p0

Further company coverage: BAJA.NS

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Corrects Hyundai instrument code in paragraph 18

By Jarrett Renshaw, Ernest Scheyder and Jeff Mason

June 3 (Reuters) - Alarm over China's stranglehold on critical minerals grew on Tuesday as global automakers joined their U.S. counterparts to complain that restrictions by China on exports of rare earth alloys, mixtures and magnets could cause production delays and outages without a quick solution.

German automakers became the latest to warn that China's export restrictions threaten to shut down production and rattle their local economies, following a similar complaint from an Indian EV maker last week.

China's decision in April to suspend exports of a wide range of critical minerals and magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

The move underscores China's dominance of the critical mineral industry and is seen as leverage by China in its ongoing trade war with U.S. President Donald Trump.

Trump has sought to redefine the trading relationship with the U.S.' top economic rival China by imposing steep tariffs on billions of dollars of imported goods in hopes of narrowing a wide trade deficit and bringing back lost manufacturing.

Trump imposed tariffs as high as 145% against China only to scale them back after stock, bond and currency markets revolted over the sweeping nature of the levies. China has responded with its own tariffs and is leveraging its dominance in key supply chains to persuade Trump to back down.

Trump and Chinese President Xi Jinping are expected to talk this week, White House spokeswoman Karoline Leavitt told reporters on Tuesday, and the export ban is expected to be high on the agenda.

"I can assure you that the administration is actively monitoring China's compliance with the Geneva trade agreement," she said. "Our administration officials continue to be engaged in correspondence with their Chinese counterparts."

Trump has previously signaled that China's slow pace of easing the critical mineral export ban represents a violation of the Geneva agreement.

Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while license applications make their way through the Chinese regulatory system.

The suspension has triggered anxiety in corporate boardrooms and nations' capitals - from Tokyo to Washington - as officials scrambled to identify limited alternative options amid fears that production of new automobiles and other items could grind to a halt by summer's end.

"If the situation is not changed quickly, production delays and even production outages can no longer be ruled out," Hildegard Mueller, head of Germany's auto lobby, told Reuters on Tuesday.

Frank Fannon, a minerals industry consultant and former U.S. assistant secretary of state for energy resources during Trump’s first term, said the global disruptions are not shocking to those paying attention.

“I don’t think anyone should be surprised how this is playing out. We have a production challenge (in the U.S.) and we need to leverage our whole of government approach to secure resources and ramp up domestic capability as soon as possible. The time horizon to do this was yesterday,” Fannon.

Diplomats, automakers and other executives from India, Japan and Europe were urgently seeking meetings with Beijing officials to push for faster approval of rare earth magnet exports, sources told Reuters, as shortages threatened to halt global supply chains.

A business delegation from Japan will visit Beijing in early June to meet the Ministry of Commerce over the curbs and European diplomats from countries with big auto industries have also sought "emergency" meetings with Chinese officials in recent weeks, Reuters reported.

India, where Bajaj Auto BAJA.NS warned that any further delays in securing the supply of rare earth magnets from China could "seriously impact" electric vehicle production, is organizing a trip for auto executives in the next two to three weeks.

In May, the head of the trade group representing General Motors GM.N, Toyota 7203.T, Volkswagen VOWG.DE, Hyundai 005380.KS and other major automakers raised similar concerns in a letter to the Trump administration.

"Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," the Alliance for Automotive Innovation wrote in the letter.

(Reporting By Jarrett Renshaw; additional reporting by Ernest Scheyder in Washington; editing by Chris Sanders and Marguerita Choy)

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By Jarrett Renshaw and Ernest Scheyder

June 3 (Reuters) - Alarm over China's stranglehold on critical minerals grew on Tuesday as global automakers joined their U.S. counterparts to complain that restrictions by China on exports of rare earth alloys, mixtures and magnets could cause production delays and outages without a quick solution.

German automakers became the latest to warn that China's export restrictions threaten to shut down production and rattle their local economies, following a similar complaint from an Indian EV maker last week.

China's decision in April to suspend exports of a wide range of critical minerals and magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

The move underscores China's dominance of the critical mineral industry and is seen as leverage by China in its ongoing trade war with U.S. President Donald Trump.

Trump has sought to redefine the trading relationship with the U.S.' top economic rival China by imposing steep tariffs on billions of dollars of imported goods in hopes of narrowing a wide trade deficit and bringing back lost manufacturing.

Trump imposed tariffs as high as 145% against China only to scale them back after stock, bond and currency markets revolted over the sweeping nature of the levies. China has responded with its own tariffs and is leveraging its dominance in key supply chains to persuade Trump to back down.

Trump and Chinese President Xi Jinping are expected to talk this week and the export ban is expected to be high on the agenda.

Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while the Chinese government drafts a new regulatory system. Once in place, the new system could permanently prevent supplies from reaching certain companies, including American military contractors.

The suspension has triggered anxiety in corporate boardrooms and nations' capitals - from Tokyo to Washington - as officials scrambled to identify limited alternative options amid fears that production of new automobiles and other items could grind to a halt by summer's end.

"If the situation is not changed quickly, production delays and even production outages can no longer be ruled out," Hildegard Mueller, head of Germany's auto lobby, told Reuters on Tuesday.

Frank Fannon, a minerals industry consultant and former U.S. assistant secretary of state for energy resources during Trump’s first term, said the global disruptions are not shocking to those paying attention.

“I don’t think anyone should be surprised how this is playing out. We have a production challenge (in the U.S.) and we need to leverage our whole of government approach to secure resources and ramp up domestic capability as soon as possible. The time horizon to do this was yesterday,” Fannon.

Diplomats, automakers and other executives from India, Japan and Europe were urgently seeking meetings with Beijing officials to push for faster approval of rare earth magnet exports, sources told Reuters, as shortages threatened to halt global supply chains.

A business delegation from Japan will visit Beijing in early June to meet the Ministry of Commerce over the curbs and European diplomats from countries with big auto industries have also sought "emergency" meetings with Chinese officials in recent weeks, Reuters reported.

India, where Bajaj Auto BAJA.NS warned that any further delays in securing the supply of rare earth magnets from China could "seriously impact" electric vehicle production, is organizing a trip for auto executives in the next two to three weeks.

In May, the head of the trade group representing General Motors GM.N, Toyota 7203.T, Volkswagen VOWG.DE, Hyundai 011760.KS and other major automakers raised similar concerns in a letter to the Trump administration.

"Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras," the Alliance for Automotive Innovation wrote in the letter.

(Reporting By Jarrett Renshaw; additional reporting by Ernest Scheyder in Washington; editing by Chris Sanders and Marguerita Choy)

(([email protected]; (646) 223-6193;))

June 2 (Reuters) - Bajaj Auto Limited BAJA.NS:

• MAY TOTAL SALES 3,84,621 UNITS

Source text: ID:nnAZN3X46GR

Further company coverage: BAJA.NS

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May 30 (Reuters) - ** India's Bajaj Auto BAJA.NS beat market estimates for fourth-quarter profit on Thursday, as higher motorcycle exports and foreign exchange gains made up for a slump in domestic demand

** Avg rating on stock a "buy;" median PT is 9,475 rupees - data compiled by LSEG

KTM ACQUISITION 'IMPERATIVE'

** UBS ("sell," PT: 8,000 rupees) says revival in KTM's exports will drive "robust" exports for Bajaj Auto

** Bernstein ("outperform," PT: 11,000 rupees) says acquisition of KTM will be a key catalyst for co, with its exports expected to resume from Q2

** Investec ("buy," PT: 9,480 rupees) says KTM's strong tech and R&D, as well as its distribution footprint make it an "imperative" acquisition for the company

** Goldman Sachs ("buy," PT: 9,600 rupees) says Bajaj Auto's focus on "faster growing" 125cc segment has continued to drive volume growth; forecasts 14% volume growth for FY26

(Reporting by Kashish Tandon in Bengaluru)

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May 20 (Reuters) - Bajaj Auto Limited BAJA.NS:

• GETS TAX PENALTY OF 5 MILLION RUPEES

Source text: ID:nBSEccNYYR

Further company coverage: BAJA.NS

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May 19 (Reuters) - Bajaj Auto Limited BAJA.NS:

• IN NEGOTIATIONS FOR KTM AG RESTRUCTURING

Source text: ID:nBSE1ZJjxK

Further company coverage: BAJA.NS

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April 28 (Reuters) - Indian automaker TVS Motor Company TVSM.NS reported a better-than-expected fourth-quarter profit on Monday, led by steady demand for its two-wheelers and continued growth in exports.

Profit rose 75.5% to 8.52 billion rupees ($100.2 million) in the quarter ending March 31, beating analysts' estimate of 7.47 billion rupees, per data compiled by LSEG.

Total two-wheeler sales of TVS grew 14% year-over-year in the third quarter, with motorcycles making up 47.8% of those sales.

Sales in India rose in the quarter, supported by new model launches and festival sales during Navratri, Gudi Padwa and Eid, the Federation of Automobile Dealers Association said in early April.

Exports, which make up nearly a fourth of the company's overall revenue, according to its latest annual report grew 31% in the reported quarter.

The company's earnings before interest, taxes, depreciation and amortization margin rose to 12.5% from 11.3% last year, helped by sale of more profitable vehicles, analysts noted.

Revenue from operations increased 16.9% to 95.5 billion rupees in the quarter, edging past analysts' estimates of 94.04 billion rupees for the company that also makes 'iQube' series of electric vehicles.

The 'Jupiter' scooter maker's total expenses grew 13.2%, led by a 13.8% growth in cost of materials consumed.

Rivals Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS are yet to report quarterly results.

Shares of TVS Motor rose as much as 4.1% after reporting results, before closing up at 2%.

($1 = 85.0300 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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By Aditi Shah

NEW DELHI, April 24 (Reuters) - India's capital New Delhi plans to limit gasoline and diesel-powered cars a family can buy as well as ban sales of fuel-guzzling motorbikes and scooters, according to a draft policy aimed at cleaning up one of the world's most polluted cities.

The measures represent one of the most drastic steps the city has lined up to tackle pollution, which often forces local authorities to ban some construction, shut schools and disrupt flights in the city of more than 30 million people during the winter season.

Under Delhi's new electric vehicle policy, the city government will also waive some local taxes on the purchase of hybrids, putting them on par with concessions given to EVs, while imposing a new levy of 0.5 rupees ($0.0059) on every litre of petrol sales, according to the 74-page draft seen by Reuters.

The primary objective "is to unlock the next phase of EV adoption, reduce air pollution and contribute to India's energy independence and net-zero targets," the draft stated.

Every year ahead of the onset of winter in Delhi, calm winds and low temperatures trap pollutants from sources including vehicles, industries and crop residue burning in nearby fields, raising the level of harmful toxins in the air.

Delhi launched the first phase of its EV policy in 2020 which helped boost the share of electric models to 12% of all new vehicle sales, including motorbikes and cars, in 2024.

Under the second phase, the policy document says, no new sales of gasoline, diesel and gas-based two-wheelers will be allowed from April 1, 2027. It is also providing a cash incentive of up to $350 on the purchase of electric bikes and scooters.

Officials at Delhi's transport ministry and the chief minister's office did not immediately respond to an email seeking comment.

LIFELINE FOR RESIDENTS

Two-wheelers are a lifeline for millions of Delhi residents, and the move could significantly impact Delhi's lower- and middle-income groups who depend on them, and not cars, to navigate the city's often congested roads.

In 2024, nearly 450,000 new two-wheeler scooters and motorbikes were sold in Delhi. There were 8 million vehicles on Delhi's roads in 2022-23, of which 67% were two-wheelers, according to central government figures.

A ban on the sale of fossil fuel two-wheelers from 2027 will hurt manufacturers such as Bajaj Motors BAJA.NS, TVS TVSM.NS and Hero MotoCorp HROM.NS, although some of the negative impact may be offset by increased sales of their electric two-wheelers.

And in a move aimed at the more affluent population, the policy is also set to limit the number of fossil fuel cars each household can purchase to two, as it aims for a 30% EV penetration by 2030, from around 2.7% last year.

"All private car owners in Delhi will be required to purchase only electric cars if they intend to own (a) third or subsequent car registered to the same residential address," the document stated.

The policy, which is expected to cost the Delhi government 28.6 billion rupees, is subject to change based on feedback from car makers and other stakeholders. It was not immediately clear when the policy will be finalised or how it will be funded.

The city government is also planning some tax waivers for hybrid vehicles to match the concessions to those given for EVs, potentially lowering their cost by up to 15%.

The move is in line with a similar move made by neighbouring state Uttar Pradesh. They are considered a win for the likes of Toyota Motor 7203.T and Maruti Suzuki MRTI.NS, but a setback for homegrown Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS who focus on EVs.

($1 = 85.3350 Indian rupees)

(Reporting by Aditi Shah; Editing by Muralikumar Anantharaman)

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April 22 - ** Two-wheeler makers Bajaj Auto BAJA.NS and Hero MotoCorp HROM.NS down 1.5% and 2.2%, respectively; TVS Motor TVSM.NS up 0.3%

** Jefferies cuts BAJA to 'hold' from 'buy' and HROM to 'underperform' from 'buy'; keeps 'buy' on TVS

** Says TVS's TVSM.NS market share is at 18-year high, Hero's at 20-year low and Bajaj has stagnated from 2019-2025

** Says demand has softened from post-pandemic spike, with checks suggesting high inventories and weak inquiries

** Cuts PT for Bajaj and Hero, implying downsides of 7.5% and ~16%, respectively

** Analysts on avg rate TVS and Bajaj the equivalent of 'buy', and Hero 'hold', per LSEG data

** Hero's shares have fallen 7.6% in last 12 months, while Bajaj has dropped ~11%; TVS, on the other hand, has surged 41%

(Reporting by Ananta Agarwal in Bengaluru)

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April 3 (Reuters) - Bajaj Auto Limited BAJA.NS:

• BAJAJ AUTO LIMITED - BAIH BV SUBSCRIBES TO EURO 50 MILLION CONVERTIBLE BONDS ISSUED BY PBAG

Source text: ID:nNSE17WrQl

Further company coverage: BAJA.NS

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Bajaj Auto Limited BAJA.NS:

• BAJAJ AUTO - APPROVED ADDITIONAL FUND INFUSION UP TO 15 BILLION RUPEES IN BAJAJ AUTO CREDIT

Source text: [ID:]

Further company coverage: BAJA.NS

March 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FEB 2-WHEELER SALES 13,84,605 UNITS - INDUSTRY BODY

• INDIA'S FEB 3-WHEELER SALES 57,788 UNITS - INDUSTRY BODY

• INDIA'S FEB TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,77,689 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY: UPCOMING FESTIVITIES OF HOLI, UGADI IN MARCH LIKELY TO CONTINUE TO DRIVE DEMAND

Further company coverage: ASOK.NS

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March 3 (Reuters) - Bajaj Auto Limited BAJA.NS:

• BAJAJ AUTO - FEB TOTAL SALES 352,071 UNITS

Source text: [ID:]

Further company coverage: BAJA.NS

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Feb 11 (Reuters) - Shares of Eicher Motors EICH.NS dropped nearly 7% on Tuesday as the Royal Enfield motorcycle maker's heavy spending on new launches hurt profit margins, with analysts expecting the company's focus on growth to keep the pressure on profitability.

The stock was set for its biggest one-day decline since July 2023 and was the biggest drag on auto stocks .NIFTYAUTO. At least six of the 34 brokerages covering the company lowered their rating on the stock, according to LSEG data.

Eicher's core profit margins missed analysts' expectations on Monday due to higher sales of lower-margin motorcycles such as the 'Meteor 350', heavy spending on new models like the e-bike "Flying Flea", and increased costs, including on promotions in a quarter that included the major Diwali and Christmas festivals.

Elara Securities analyst Jay Kale said though vehicle sales hit an all-time high in the quarter, with growth beating those of rivals, the company's gross profit per vehicle was at a six-quarter low. Kale rates the stock "sell".

Morgan Stanley analyst Binay Singh, who rates the stock "underweight", doesn't expect margins to grow soon.

"Growth over margins is the right strategy, in our view. But with the stock pricing in high growth and high margins, achieving both will be tough."

Eicher's stock has outperformed those of its key rivals, Bajaj Auto BAJA.NS and TVS Motor TVSM.NS, over the past year. Its price-to-forward earnings ratio of 29.3 is sandwiched between TVS's 38 and Bajaj's 26.

However, while six analysts cut their price targets on Eicher's stock, at least 17, or half of all brokerages, raised their targets, factoring in higher core profit from the company's commercial vehicles joint venture with Volvo.

Analysts' median 12-month target is now 5,409.50 rupees on the stock, implying a 6% upside to the current price of about 5,102 rupees, per LSEG data.

Their average rating is "hold" on Eicher, while they rate both Bajaj and TVS "buy".

(Reporting by Manvi Pant, Additional reporting by Meenakshi Maidas; Editing by Savio D'Souza)

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Feb 6 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FADA: OVERALL AUTO RETAIL GREW BY 6.6% YOY IN JAN

• INDIA'S FADA: PERSISTENT CASH-FLOW CONSTRAINTS, SUBDUED INDUSTRIAL DEMAND COULD CAP UPSIDE POTENTIAL

• INDIA'S FADA: SUPPORTIVE POLICIES, POST-BUDGET STIMULUS MAY HELP SUSTAIN SECTOR’S EARLY-YEAR GAINS

• INDIA'S FADA: ONGOING FESTIVE/WEDDING DEMAND, FRESH PRODUCT INTRODUCTIONS COULD SUSTAIN FOOTFALLS IN NEAR-TERM

• INDIA'S FADA: NEARLY HALF OF DEALERS ANTICIPATE GROWTH IN FEB,43% EXPECT SALES TO STAY FLAT,11% FORESEE DIP

• INDIA'S FADA: AUTO RETAIL SECTOR ENTERS FEBRUARY WITH CAUTIOUS OPTIMISM

Source text: [ID:]

Further company coverage: ASOK.NS

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Feb 3 (Reuters) - Bajaj Auto Limited BAJA.NS:

• JAN TOTAL SALES 3,81,040 UNITS

Source text: ID:nBSE94pMSj

Further company coverage: BAJA.NS

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Jan 29 (Reuters) - Shares of India's Bajaj Auto BAJA.NS rose more than 4% in early trade on Wednesday, as analysts flagged a healthy near-term domestic demand and export outlook for the two-wheeler maker.

The shares were leading gains in the benchmark Nifty 50 index .NSEI, which was up marginally, and were among the top gainers in the auto index .NIFTYAUTO, which rose 0.6%.

The 'Pulsar' motorcycle manufacturer's profit rose 3.3% to 21.09 billion rupees (around $244 million) for the October-December quarter, missing analysts' estimates.

Bajaj Auto also posted its slowest profit growth in nearly two years but the company forecast a 20% growth in exports in the next few months, led by demand from Latin America and Southeast Asia.

"We remain positive on (Bajaj's) growth outlook for both domestic and export two-wheelers," analysts at Jefferies said in a note.

Bajaj Auto expects its margins to sustain, if not expand, as its EV business, particularly the 'Chetak' electric scooter stable, has begun to turn a profit.

Two-wheeler exports contribute more than a third to Bajaj Auto's overall sales.

Its shares were last 4.2% higher at 8,740 rupees. They have fallen 0.7% so far this month compared with a 1.1% drop in the auto index.

Meanwhile, shares of rival two-wheeler maker TVS Motor Company TVSM.NS jumped over 7%, adding to 5% gains on Tuesday after the company posted upbeat margins despite missing analysts' profit estimates.

(Reporting by Manvi Pant and Sethurman NR in Bengaluru; Editing by Mrigank Dhaniwala)

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Jan 28 (Reuters) - India's Bajaj Auto BAJA.NS reported a smaller-than-expected rise in third-quarter profit on Tuesday, hurt by lower domestic sales of its motorcycles and three-wheelers, while higher sales of its margin-diluting electric scooters also weighed.

The 'Pulsar' motorcycle manufacturer reported a profit of 21.09 billion rupees (around $244 million) for the October-December quarter, missing analysts' expectations of 21.63 billion rupees, according to data compiled by LSEG.

($1 = 86.5320 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Jan 21 (Reuters) - Bajaj Auto Limited BAJA.NS:

• BAJAJ AUTO LIMITED - GETS TAX ORDER FOR 23.2 MILLION RUPEES

Source text: ID:nBSE4kg8xd

Further company coverage: BAJA.NS

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Jan 14 (Reuters) -

• INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,14,934 UNITS - INDUSTRY BODY

• INDIA'S DEC 2-WHEELER SALES 11,05,565 UNITS - INDUSTRY BODY

• INDIA'S DEC 3-WHEELER SALES 52,733 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 42,74,793 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 2-WHEELER SALES 1,95,43,093 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 3-WHEELER SALES 7,28,670 UNITS - INDUSTRY BODY

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Jan 10 (Reuters) - Bajaj Auto Limited BAJA.NS:

• ORDER ISSUED BY ASSISTANT COMMISSIONER, CGST & CENTRAL EXCISE

• ORDER DEMANDS TAX OF 1.2 MILLION RUPEES

Source text: ID:nBSE6Dv0CS

Further company coverage: BAJA.NS

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** Bajaj Auto BAJA.NS rises 1.5%; among top pct gainers on Nifty 50 .NSEI, which is down 0.3%

** Stock rises for first session in five, but shed 0.7% in 2025 so far

** CLSA upgrades to "outperform" from "underperform" citing recent correction, co's improving electric two-wheeler franchise

** Brokerage note says co's market share in electric two-wheelers rose to 25% in December 2024 on cheaper Chetak model

** Maintains TP at 9,493 rupees vs stock's avg TP od 10,507.94 rupees - LSEG

** Says Latam, Asean markets helping co's exports recovery; warns domestic competition from TVS Motor TVSM.NS, Hero MotoCorp HROM.NS and Honda 7267.T will persist

** Stock hit record high of 12,774 rupees in September; currently trading at 8,734 rupees

(Reporting by Hritam Mukherjee in Bengaluru)

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Updates shares in paragraph 10, adds details from letter in paragraph 5, background in paragraph 7-9

Jan 8 (Reuters) - India's markets regulator has warned Ola Electric OLAE.NS against sharing company-related information on social media before disclosing it to investors, adding to a slew of problems for the electric two-wheeler maker.

The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, said that the company had failed provide "equal and timely access" to its investors of information about a planned store expansion.

Last month, Ola Electric's founder, Bhavish Aggarwal, shared news about new store openings in a post on social media platform X and to investors about four hours later through the stock exchanges.

Publicly-listed companies are required to disclose any information first to investors through exchange filings and not more than 12 hours after the event takes place.

"The above violations have been viewed very seriously. You are hereby warned," SEBI said in its letter.

Ola Electric, which went public in August last year, opened 3,200 new stores and service centres last month to expand its reach and address rising complaints on its service standards.

The letter from SEBI is the latest such regulatory scrutiny on the company following a government agency's investigation into its service standards.

The issues have cast a shadow on Ola's stellar listing, which saw its shares double in value in less than a week.

It has also lost market share to rivals TVS Motor TVSM.NS and Bajaj Auto's BAJA.NS 'Chetak' e-scooters in recent months.

Its shares are currently down about 1.8% at 77.74 rupees, nearly 50% below their all-time high hit in August last year. They had fallen as much as 5% earlier in the day.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

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** Shares of Bajaj Auto Ltd BAJA.NS drop as much as 2.8% to 8,551 rupees, their lowest since March 2024

** Automaker's total sales fell 1% in December Y-o-Y, co said before market open

** BAJA last down 1.8%, biggest pct loser on blue-chip Nifty 50 .NSEI index

** Overall sales decline led by 19% fall in domestic two-wheeler sales

** Analysts tracking BAJA rate it "hold" on avg, same as peers Eicher Motors EICH.NS and TVS Motor TVSM.NS - data compiled by LSEG

** Stock rose 29.4% in 2024, marking a third consecutive year of gains

(Reporting by Nandan Mandayam in Bengaluru)

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By Aditi Shah and Neha Arora

NEW DELHI, Dec 17 (Reuters) - South Korea's LG Energy Solution is in talks with India's JSW Energy to manufacture batteries for electric vehicles and renewable energy storage in a joint venture that would need an investment of over $1.5 billion, two sources told Reuters.

The two companies have signed an initial agreement to form an equal partnership in which LGES 373220.KS will contribute the technology and equipment for making batteries and JSW JSWE.NS will invest money, said one of the sources.

The discussions include setting up a plant in India with a total capacity of 10 gigawatt hours of which JSW is likely to use about 70% for energy storage and electric vehicles and LGES will take the remainder, both sources said.

"LGES wanted a partner in India and JSW is interested because it is coming up with its own brand of EVs starting with buses and trucks, and later on cars," said the second person.

The agreement is non-binding and both companies expect to finalise the talks over coming months, said the two sources who have direct knowledge of the discussions but declined to be identified as the talks are still private.

"We are exploring various potential business options and monitoring market situation closely," LGES said in a statement, adding that it does not have any specific plans for India.

JSW Energy declined to comment.

Reuters reported last year that LGES and JSW were in early talks to build batteries together in India.

For LGES, which supplies Tesla TSLA.O, General Motors GM.N and Hyundai 005380.KS, the joint venture will establish its manufacturing presence in India where it is the top battery supplier to e-scooter makers like Ola Electric OLAE.NS and home-grown rival TVS Motor TVSM.NS.

It also gives LGES an opportunity to lower its risk of manufacturing in a country where the EV market is still in its infancy. Slowing EV demand elsewhere in the world has already forced it to reduce capital expenditure next year.

For JSW, whose billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs, this will be an opportunity to secure supplies locally for its energy business while bringing down the cost of its EVs.

The Indian steel-to-energy group last year formed a joint venture with China's SAIC Motor 600104.SS giving it a 35% stake in the Chinese carmaker's India unit, MG Motor, which it is now helping grow.

"JSW has proposed a 25-year agreement to LGES," said the second person, adding that the Indian company continues to engage with other battery players as well.

The companies would like the plant to be operational before the end of 2026 and expect to make a final decision in about 3-4 months, the first person said.

If the venture goes ahead it will be a win for India's Prime Minister Narendra Modi's government that is offering companies billions of dollars in incentives to boost local manufacturing of clean cars.

Domestic carmakers Tata Motor TAMO.NS and rival MG Motor dominate India's electric car sales, while home-grown brands like Ola, TVS and Bajaj Auto BAJA.NS lead e-scooter sales.

(Reporting by Aditi Shah and Neha Arora in New Delhi, additional reporting by Hyun Joo Jin in Seoul
Editing by Christina Fincher)

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