BAJAJ-AUTO

Corrects market share to about 0.5% from about 5% in paragraph 4 after company clarification

By Meenakshi Maidas and Yagnoseni Das

Sept 30 (Reuters) - Simple Energy, an Indian electric two-wheeler manufacturer that plans to go public next year, is aiming for a 19-fold jump in retail presence by 2029 as it accelerates expansion in northern India to compete with industry giants, a top executive said.

Bengaluru-headquartered Simple Energy, founded in 2019, opened its first showroom last year and now operates 53 outlets across the country.

In the next three to four years, Simple will be in a hyper-growth phase, essentially to break into the top three, Founder and CEO Suhas Rajkumar told Reuters.

The company currently holds about a 0.5% share of India's EV two-wheeler market, competing with established players such as TVS Motor TVSM.NS, Bajaj Auto BAJA.NS, Ola Electric OLAE.NS, and Ather Energy ATHR.NS.

Scooters make up roughly one-third of India's two-wheeler market and dominate the EV segment, accounting for the majority of the sales.

Simple Energy said in mid-September that it has developed an in-house motor free of heavy rare-earth elements, a move aimed at insulating itself from supply chain disruptions following China's export curbs, which rattled the global auto industry and left manufacturers scrambling for alternative technologies.

Local peer Ola also ramped up its programme to make their own rare-earths-free motors in April in response to global supply constraints, and plans to roll them out in the December quarter.

Simple Energy will keep the motor tech exclusive for now, but may open it to other players within a year if supply chain pressures persist, Rajkumar said.

The company plans to launch an IPO in the second or third quarter of fiscal 2027, aiming to raise $350 million, largely through a fresh issue. The proceeds will be earmarked for retail expansion, research and development, and marketing.

A small portion of the IPO will be an offer for sale, although specific details remain undisclosed. So far, the company has raised $51 million from marquee investors to fuel its growth.

Simple, which sells the 'Simple One' and 'Simple OneS', has sold 5,027 vehicles, as of September 29, according to government data, after facing early delivery hiccups.

(Reporting by Meenakshi Maidas and Yagnoseni Das in Bengaluru; Editing by Sherry Jacob-Phillips)

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Sept 22 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• EXTENDS GST BENEFITS ON MOTORCYCLES UNDER 350CC

• ALSO ADDING AN ADDITIONAL 50% FINANCING BENEFITS

• PULSAR NS125 ABS BUYERS TO SAVE 12,206 RUPEES, PULSAR N160 USD BUYERS TO GET 15,759 RUPEES BENEFITS

Source text: ID:nBSE21bnjd

Further company coverage: BAJA.NS

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Sept 1 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - AUG TOTAL SALES 417,616 UNITS

Source text: ID:nBSE8MhBY3

Further company coverage: BAJA.NS

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Aug 22 (Reuters) - Indian automaker Bajaj Auto's BAJA.NS supply of rare earth magnets has improved, its managing director Rajiv Bajaj told CNBC-TV18 on Friday.

"We started receiving clearance for our shipments of light rare earth magnets about three-to-four weeks back," Bajaj told the news broadcaster.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

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Adds comments from Maruti Suzuki chairman in paragraphs 7,8,9

By Nikunj Ohri, Aftab Ahmed and Aditi Shah

NEW DELHI, Aug 18 (Reuters) - India aims to slash taxes on small cars and insurance premiums as part of a sweeping reform of its goods and services tax (GST), a government source said on Monday, sparking a rally in Indian stock markets.

Prime Minister Narendra Modi's administration revealed plans over the weekend for the largest tax overhaul since 2017, with consumer, auto and insurance companies likely to emerge as the biggest winners when product prices drop from October, once the reform is approved.

The federal government has suggested lowering GST on small petrol and diesel cars to 18% from the current 28%, said the source who is directly involved in the matter.

The consumption tax on health and life insurance premiums may also be lowered to 5% or even zero from 18% currently, the same source said.

Shares of Maruti Suzuki MRTI.NS, the biggest seller of small petrol cars in India, surged nearly 9% on Monday, leading a rally in auto shares that helped push India's benchmark Nifty index 1.3% higher, on course for its best day in three months.

Shares of other carmakers such as Mahindra & Mahindra MAHM.NS, as well as motorbike manufacturers like Hero MotoCorp HROM.NS and Bajaj Auto BAJA.NS, which will also benefit from tax cuts, jumped 2%-4% on Monday.

Stocks of insurance companies such as ICICI Prudential ICIR.NS, SBI Life SBIL.NS, and LIC LIFI.NS rose as much as 2%-5% before pairing some gains.

Modi's deep tax cuts will strain government revenues but have drawn praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington.

Maruti Chairman R.C. Bhargava said the tax rationalisation is a "huge reform".

"With more affordability, more people will come into the purchasing system," said Bhargava, who declined to comment on proposed tax cuts on small cars until the fine print is out.

"This restructuring of the GST will increase competitiveness of Indian products and the opening of trade borders will bring in the necessary competition. Competition, combined with your ability to produce and sell at lower prices, makes for the best efficiency," he added.

Federal government officials over the weekend said New Delhi has proposed only two rates of taxation -- 5% and 18% -- under the revamped structure. The highest 28% rate will be abolished.

The new proposal, however, will impose a 40% tax on 5-7 "sin-goods" like tobacco products and luxury items.

The announcement will not be effective until the GST Council, which is chaired by the federal finance minister and has representatives from all states, gives a nod. A meeting is expected by October.

India's finance ministry did not reply to an email seeking comment.

PUSH FOR SMALL CARS

Sales of small cars, defined as those having engine capacity below 1200cc for petrol vehicles and 1500cc for diesel and not exceeding 4 metres in length, have slowed over the last few years as buyers switched to bigger, feature-rich SUVs.

Small cars made up a third of the 4.3 million passenger vehicles sold in the world's third-largest automobile market last fiscal year, down from nearly 50% pre-COVID, industry data showed.

The segment makes up half of all cars sold by Maruti, majority-owned by Japan's Suzuki Motor 7269.T, which saw its market share plunge to about 40% from over 50% in the last five years as sales of its Alto, Dzire and Wagon-R models dropped.

Carmakers Hyundai Motor India HYUN.NS and Tata Motors TAMO.NS also stand to gain.

Cars with higher engine capacity that currently attract 28% GST and an additional levy of up to 22% - resulting in total taxes of about 50% - may come under a new special rate of 40%, the source said.

The government source added that details are being firmed up to consider if any extra levies should be imposed over the 40% to keep the overall tax incidence for big cars the same at 43%-50%.

On the other hand insurance penetration in India continues to remain low, at 3.8% of GDP, in 2024, according to research firm Swiss Re Institute. The companies believe lowering of GST will help boost sales of insurance products.

(Reporting by Nikunj Ohri; Editing by Aditya Kalra, Raju Gopalakrishnan and Susan Fenton)

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Aug 14 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - GETS FAVOURABLE TAX DEMAND ORDER OF 23.2 MILLION RUPEES

Source text: ID:nBSEH9pq2

Further company coverage: BAJA.NS

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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 Ltd BAJA.NS:

• BAJAJ AUTO Q1 PAT 20.96 BILLION RUPEES; IBES EST. 20.42 BILLION RUPEES

• BAJAJ AUTO Q1 TOTAL REVENUE FROM OPERATIONS 125.84 BILLION RUPEES; IBES EST. 124.79 BILLION RUPEES

Source text: ID:nBSE62nMBx

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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Adds details from FADA, industry context paragraph 2 onwards

July 7 (Reuters) - Geopolitical tensions and spillover effects from U.S. tariffs may weigh on consumer sentiment, while China's rare earth export curbs could further tighten vehicle supply and drag on retail sales, India's Federation of Automobile Dealers Associations (FADA) said on Monday.

Retail volumes fell 9.4% in June from a month ago and the average time a car stayed in a showroom, or inventory days, rose to about 55 days from 52-53 days in May, above the FADA's recommended threshold of 21 days.

China's rare earth export curbs have upended global auto supply chains, exacerbating challenges for Indian carmakers already grappling with high inventories and tighter financing amid uncertainty over U.S. President Donald Trump's tariffs.

"As we enter July 2025, dealer sentiment appears tilted towards (a) slowdown - flat and de-growth expectations (42.8% and 26.1%) exceed growth forecasts (31.1%). Similarly, booking-pipeline traction remains uneven," FADA said.

However, above-normal monsoon showers should bolster rural demand in the near term, FADA said, adding that July will likely see mixed fortunes, driven by an agrarian tailwind, yet tempered by seasonal headwinds and elevated price points.

Last month, the FADA warned that demand may remain subdued in June, citing elevated inventory levels, reduced financing and concerns about rare earth shortages.

(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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June 5 (Reuters) - Automakers and their suppliers are facing shortages due to restrictions on Chinese exports of rare earths, minerals and magnets, an issue that has forced some to shut down production of certain models.

Rare earth magnets are used in motors that run electric vehicles and other car parts such as windows and audio speakers.

These companies have paused production or warned shortages were affecting their supply chains:

PRODUCTION SUSPENDED

** Ford F.N shut down production of its Explorer SUV at its Chicago plant for a week in May because of the rare earths shortage.

** Suzuki Motor 7269.T suspended production of its flagship Swift subcompact from May 26, citing a shortage of components. It expects a partial restart on June 13, with full resumption after June 16.

Two people familiar with the matter said the suspension was due to China's restrictions. Suzuki declined to comment on the reason.

** Several European auto supplier plants and production lines have been shut down because of a rare earth shortage, Europe's auto supplier association CLEPA said on June 4.

SUPPLY CHAIN CONCERNS

** Indian automaker Bajaj Auto BAJA.NS warned that any further delays in securing the supply of rare earth magnets from China could "seriously impact" EV production by July.

** Auto parts maker Bosch said bottlenecks in the supply of rare earths were affecting its suppliers, who had to furnish a lot of detailed information to get export licences.

** BMW BMWG.DE said a part of its supplier network was affected by the shortage, but that its own plants were running as normal.

** Maruti Suzuki MRTI.NS India's top-selling carmaker, said there was no immediate impact, and that it was in talks with the government on the matter.

** German auto supplier ZF said it sees the effect of a rare earths shortage on some of its suppliers, although it does not procure the raw materials itself.

(Compiled by Anna Chaberska and Amir Orusov in Gdansk, editing by Milla Nissi-Prussak and Jan Harvey)

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Adds context on recent Chinese government announcements in paragraphs 13, 14

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 rare earths and related 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 curbs are 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 controls represents a violation of the agreement reached last month in Geneva.

MAGNETS HELD UP AT CHINESE PORTS

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 restrictions have 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.

Chinese state media reported last week that China was considering relaxing the curbs for European semiconductor firms while the Ministry of Foreign Affairs has said it would strengthen cooperation with other countries over its controls.

However, rare-earth magnet exports from China halved in April as exporters grappled with the opaque licensing scheme.

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 said.

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, Marguerita Choy and Sonali Paul)

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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) - Indian tyre maker MRF MRF.NS posted a near 40% fall in third-quarter profit on Thursday, as higher rubber costs outweighed steady demand for tyre, sending its shares more than 3% lower.

Standalone net profit was 3.07 billion rupees ($35.06 million) in the quarter ended Dec. 31, missing analysts' average estimate of 4.2 billion rupees, according to LSEG data.

Revenue from operations rose 13.8% to 68.83 billion rupees, beating analysts' average estimate of 67.33 billion rupees, while total expenses increased 20.6%.

MRF makes tyres for vehicles of Hyundai Motor India HYUN.NS and Bajaj Auto BAJA.NS, among others.

For further earnings highlights, click (Full Story)

KEY CONTEXT

Prices of rubber, a key raw material for tyre makers, rose in the December quarter, analysts said. Cost of materials consumed rose 23.8% to 46.34 billion rupees for MRF.

Total vehicle sales in India rose 3.1% year-on-year in the reported quarter, compared with a 19.5% jump in the year-earlier period. This weighed on tyre makers such as MRF, which depend on auto sales for a big chunk of their revenue.

Meanwhile, replacement demand, where customers change old or worn-out tyres with new ones, along with price hikes helped boost revenue, analysts said.

PEER COMPARISON

* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 87.5575 Indian rupees

(Reporting by Meenakshi Maidas in Bengaluru; Editing by Subhranshu Sahu)

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

• JAN TOTAL SALES 3,81,040 UNITS

Source text: ID:nBSE94pMSj

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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) - Bajaj Auto Limited BAJA.NS:

• Q3 PAT 21.09 BILLION RUPEES; IBES EST. 21.63 BILLION RUPEES

• Q3 TOTAL REV FROM OPS 128.07 BLN RUPEES; IBES EST. 130.29 BLN RUPEES

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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

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