Bajaj Auto

By Saikeerthi .

Aug 12 (Reuters) - Indian electric rental bike startup Yulu said on Wednesday it had raised $93 million in equity and debt to expand its fleet, enter new cities and target net profit next year.

Electric mobility firms including Yulu have benefited from fast growth in India's quick commerce and e-commerce sectors, as delivery workers increasingly shift to battery-powered vehicles that cost less to run and reduce exposure to fuel price swings.

Yulu has been operationally profitable since April last year and no longer needs equity capital to fund daily operations, CEO and co-founder Amit Gupta told Reuters.

Instead, its main funding need now is to expand its vehicle fleet, Gupta said.

Founded in 2017 and backed by Bajaj Auto BAJA.NS, Yulu plans to quadruple its active fleet to 200,000 two-wheelers from 50,000 over the next two years and expand to 20 cities from 12 in the next 12 months through company-run and franchise models.

The company is also entering intra-city mobility with a high-payload electric scooter built for e-commerce logistics, bike taxis and express parcel delivery. Its current fleet is largely made up of low-speed vehicles used for quick commerce and food delivery.

Yulu expects the expanded fleet to help it become profit after tax (PAT)-positive on a monthly basis in the next calendar year.

The company is targeting annualised revenue of 12 billion to 15 billion rupees and aims to turn PAT-positive before pursuing a public listing, Gupta said.

Yulu almost doubled its revenue in the financial year ended March 31, 2025 to 2.37 billion rupees ($24.84 million) and narrowed losses by 12% to 1.26 billion rupees.

GEF Capital Partners, a climate-focused investment firm, led the $63-million equity portion of the fundraise. Existing investors Bajaj Auto and Magna International MG.TO did not participate in the fundraise.

($1 = 95.4075 Indian rupees)

(Reporting by Saikeerthi in Bengaluru; Editing by Subhranshu Sahu)

(([email protected]; (+91) 8296756080))

Aug 11 (Reuters) - Bain Capital-backed Dhoot Transmission's DHOT.NS $321 million initial public offering was fully subscribed on the second day of bidding on Tuesday, led by non-institutional and retail investors, as the auto components maker bets on India's shift to electric vehicles to drive growth.

The Chhatrapati Sambhajinagar, Maharashtra-based company received bids for 24.97 million shares, as of 10:40 a.m. IST, against 24.96 million shares on offer, exchange data showed.

Here are key details:

• Non-institutional investors bid for 10.93 million shares, 2.03 times the number of shares set aside for them; retail investors subscribed 1.07 times, while the institutional portion was 6% subscribed

• Dhoot Transmission raised 9.18 billion rupees ($96.22 million) from 72 anchor investors, including BlackRock and Abu Dhabi Investment Authority, ahead of the IPO

• The 30.67 billion rupees IPO comprises a fresh issue of shares worth 14 billion rupees and an offer-for-sale of up to 19.14 million shares by Bain Capital's BC Asia Investments XV and Mangalam Capital

• The company expects India's shift to EVs to be its biggest growth driver as these vehicles require greater wiring-harness content than internal combustion engine vehicles, CFO Nitin Kalani told Reuters last week

• The company is expanding its EV-focused product portfolio beyond wiring harnesses to include battery assemblies, on-board chargers, DC-DC converters and charging guns. Its non-harness portfolio currently accounts for 23% of revenue, up from about 18% in fiscal 2024

• Dhoot, which makes wiring harnesses for automotive and industrial applications, gets about a third of its revenue from Bajaj Auto BAJA.NS, India's biggest two-wheeler exporter

• Dhoot's revenue stood at 45.3 billion rupees in fiscal 2026. The company expects annual margins to remain at 15%-16%, broadly in line with current levels

• The IPO has a price band of 829 rupees to 871 rupees per share and will close for subscription on August 12. Shares are expected to begin trading on August 17

($1 = 95.4025 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru; Editing by Rashmi Aich)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Aug 6 (Reuters) - Ashok Leyland Limited ASOK.NS:

• INDIA’S FADA: JULY COMMERCIAL VEHICLE RETAIL SALES ROSE 24.04% Y/Y

• INDIA’S FADA: LOOKING AHEAD TO AUGUST’26, DEALER OPTIMISM FIRMS CONSIDERABLY

• INDIA’S FADA: OVERALL, NEXT THREE MONTHS APPEAR DECISIVELY CONSTRUCTIVE

• INDIA AUTODEALERS BODY FADA: JULY OVERALL AUTO RETAIL SALES ROSE 25.89% Y/Y

• INDIA’S FADA: JULY TWO-WHEELERS RETAIL SALES ROSE 28.25% Y/Y

• INDIA'S FADA: JULY PASSENGER VEHICLE RETAIL SALES ROSE 19.13% Y/Y

• INDIA'S FADA: ALTERNATIVE FUELS ARE NOW WITHIN STRIKING DISTANCE OF PETROL IN PASSENGER VEHICLE MARKET

Further company coverage: ASOK.NS

(([email protected];))

By Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh

NEW DELHI, Aug 5 (Reuters) - India's auto industry said it would revamp numbers furnished to the government as it withdrew its first warning of damage to vehicle parts caused by contaminated ethanol-blended fuel, stoking consumer anger over the contentious policy.

Tuesday's move came hours after media reported the group's warning, sparking public uproar and forcing the petroleum ministry to issue a clarification.

"The referred numbers reported in the media need authentication," the Society of Indian Automobile Manufacturers said in a statement, "... and therefore SIAM is withdrawing its earlier communication."

SIAM, which sent its warning on July 28, and the recipient, India's petroleum ministry, did not immediately respond to requests for comment.

With their letter, seen by Reuters, India's automakers accept for the first time issues stemming from a mandatory policy that sparked street protests, legal cases and consumer anger after the government rolled it out at 90,000 fuel pumps.

The lobby group did not deny the issue of contamination in its statement, but said some numbers quoted "need authentication through collection of elaborate data ... across the country followed by a comprehensive consultation".

The group, whose members include Maruti Suzuki, Tata Motors, Toyota Motor Corp and Mercedes Benz, did not say when the efforts would be completed, however.

QUESTIONS FROM VEHICLE OWNERS

Vehicle owners are at best sceptical about the U-turn.

"​Did the science change overnight, or did the ministry call?" Nachiket Deshpande, one of dozens of angry social media users, asked on X.

The policy of blending 20% ethanol in petrol to yield a product called E20 replaced E10 nationwide in 2025.

That was well ahead of a 2030 deadline as Prime Minister Narendra Modi's government sought to cut costly petroleum imports, although E20-compliant cars had only begun hitting the roads in 2023.

The rollout provoked uproar instead among consumers who blame the fuel for mileage drops and vehicle damage, with many demanding a choice of lower ethanol blends, particularly for vehicles that cannot use E20.

The government sought to soothe the concerns with press statements and social media campaigns, drafting in executives from leading carmakers such as Maruti and Hyundai to defend the roll-out at a July press conference.

WARNINGS OF CORROSION OR WEAR

In its missive to the ministry, the group warned of elevated chloride and moisture levels in E20 fuel sold at retail outlets nationwide.

"Members are observing a huge increase in the issues in customer vehicle parts and replacement. Investigations ... reveal the failure is due to corrosion or wear caused by high chloride presence which is traced to the fuel used," it said.

Car parts in direct contact with the fuel or engine emissions suffered the most, "specifically after E20 implementation", it added.

It also flagged high moisture levels in the fuel that it said could immobilise the vehicle immediately after fuelling, calling on the ministry for tougher quality checks against contamination.

Fuel quality is monitored on a regular basis by oil marketing companies and only two cases of chloride contamination were found in a sample of 2,000 tests, the ministry had said on social media on Tuesday.

Speaking to Reuters on condition of anonymity on Wednesday, a senior government official called the fuel concerns a "misinformation campaign" against E20, playing out mainly on social media with no real evidence in cars on the road.

(Reporting by Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh; Additional reporting by Aditya Kalra; Editing by Clarence Fernandez)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

Aug 3 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO- JULY 2026 TOTAL SALES AT 4,74,677 UNITS

Source text: ID:nBSE2qM6hF

Further company coverage: BAJA.NS

(([email protected];))

** 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)

(([email protected]; (+91) 8296756080))

** Shares of Bajaj Auto BAJA.NS up 7.4% at 11,210.5 rupees so far this week

** Stock set for a third consecutive weekly gain, if current trend holds

** The Indian automaker's first-quarter profit rises 42.3% to 29.83 billion rupees ($309.04 million) on strong domestic and overseas demand

** Earlier this week, the company said it expects to launch electric motorcycles in fiscal 2028 and expand production of its Chetak EV scooter

** Brokerages say Bajaj Auto's quarterly results beat estimates on strong margins, cost control and export momentum, although some flag concerns over rising costs and domestic motorcycle market share losses

** Stock rated "buy" on average by 39 analysts; median PT of 11,639 rupees, according to LSEG-compiled data

** YTD, stock up 19.7%

($1 = 96.5250 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** Bajaj Auto BAJA.NS said on Tuesday it expects to launch electric motorcycles in fiscal 2028 and expand production of its Chetak EV scooter as it seeks to strengthen its position in India's competitive two-wheeler market

** Shares up 4% at 10,800 rupees

STRONG MARGINS, EXPORT MOMENTUM LIFT OUTLOOK

** Citi ("Sell," PT: 10,000 rupees) says Q1 beat estimates on better realizations and cost control, positive demand outlook and exports, but remains cautious on rising costs, market share erosion in motorcycles and sustainability of margin gains

** CLSA ("Outperform," PT: 12,068 rupees) says EBITDA margin beat expectations despite 4.5% commodity inflation, helped by pricing, forex tailwind, richer mix and cost controls; sees strong growth from exports, EVs and upcoming launches

** Investec ("Buy," PT: 13,185 rupees) says Q1 earnings topped estimates on margins; expects earnings upgrade cycle to continue on export strength, product refreshes, EV momentum and 25% capacity expansion

** Jefferies ("Hold," PT: 11,500 rupees) says Bajaj delivered strong margin defense despite commodity headwinds; raises EPS estimates on stronger exports and profitability but flags domestic motorcycle market share loss as a key concern

($1 = 96.3050 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]; 8800437922))

Corrects dateline to say July 21, not July 16; adds Reuters

July 21 (Reuters) - Indian automaker Bajaj Auto BAJA.NS reported a 42.3% higher first-quarter profit on Tuesday on strong strong domestic and overseas demand and gains from favourable currency movements.

The Pulsar motorcycle manufacturer's profit rose to 29.83 billion Indian rupees ($299.62 million) in the quarter ended June 30.

($1 = 96.2225 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Nivedita Bhattacharjee)

(([email protected]))

July 16 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - BAJAJ MOBILITY AG Q2 2026 REVENUE EUR 370 MILLION VERSUS EUR 231 MILLION IN Q2 2025

Source text: ID:nBSEcgwj41

Further company coverage: BAJA.NS

(([email protected];))

July 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JUNE TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,88,144 UNITS

• SIAM - INDIA'S JUNE 2-WHEELER SALES 18,51,400 UNITS

• SIAM - INDIA'S JUNE 3-WHEELER SALES 77,951 UNITS

• SIAM - OVERALL CONSUMER SENTIMENT AND DEMAND REMAIN STEADY AT PRESENT

• SIAM: INDUSTRY CONTINUES TO CLOSELY MONITOR GEOPOLITICAL DEVELOPMENTS AND PROGRESS OF MONSOON

Further company coverage: ASOK.NS

(([email protected];;))

** Shares of automaker Bajaj Auto BAJA.NS rise about 4.1% this week--biggest percentage gain since week ended May 8, 2026

** On July 6, India's autodealers body said two-wheeler category saw a 4.73% rise in retail volumes in June Y/Y

** June saw resilient two-wheeler demand amid mixed market signals -- FADA

** Co likely to report strong EBITDA growth Y/Y, driven by favourable currency movements, export recovery and richer three-wheeler mix -- UBS analysts say in a July 8 note

** 21 out of 37 analysts rate the stock "buy" or higher, 9 rate the stock "hold", and 7 analysts rate the stock "sell" or lower; median PT of 11,015 rupees apiece

** YTD, stock up 8.58% vs a 7.54% fall in Nifty 50 Index .NSEI

(Reporting by Saikeerthi in Bengaluru)

(([email protected]; (+91) 8296756080))

Rewrites throughout with comments from president of auto dealers' body

By Kashish Tandon

July 6 (Reuters) - India's appetite for electric, hybrid and compressed natural gas vehicles accelerated after the Iran war triggered fuel price hikes, the president of the country's auto dealers' body said, with such models reaching a record share of passenger vehicle sales in June.

Alternative-fuel vehicles accounted for 40.35% of PV retail sales in June, up from about 38% a month earlier, as consumers increasingly sought cheaper running costs after petrol and diesel prices were raised several times in May.

"We need to watch whether this is an emotional knee-jerk reaction from customers or whether this growth is here to stay," C.S. Vigneshwar, president of the Federation of Automobile Dealers Associations (FADA), told Reuters on Monday.

Overall vehicle sales rose 21.8% to a record 2.6 million units, with PV sales rising 28.6% year-on-year to 410,853 units.

Among PVs, CNG models accounted for 24.3% of total sales, while hybrids made up 8.3% and electric vehicles 7.8%.

Industry leader Maruti Suzuki MRTI.NS said last month that bookings for its CNG cars jumped 40% since the fuel price hikes.

The share of electric vehicles among overall two-wheeler sales rose to 10.6%, hitting the double-digit mark for the first time, according to FADA.

While the worst of the crude shock and supply chain disruptions from the Iran war seemed to be over, a return to complete normalcy could still take "a few quarters" and may involve some cost implications, said Vigneshwar.

(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich, Mrigank Dhaniwala and Janane Venkatraman)

(([email protected]; 8800437922;))

July 2 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• JUNE 2026 DOMESTIC 2-WHEELER SALES UP 12% TO 166,956 UNITS

• JUNE 2026 TOTAL 2-WHEELER SALES UP 30% TO 389,395 UNITS

Source text: ID:nBSE5vyssQ

Further company coverage: BAJA.NS

(([email protected];))

By Aditi Shah

NEW DELHI, June 29 (Reuters) - India's capital New Delhi will offer a cash incentive of over$1,000 to car owners willing to scrap their old vehicle for an EV, according to a new policy finalised by the government on Monday in a move aimed at reducing high levels of air pollution.

New Delhi is one of the world's most polluted cities with air quality worsening in the winters when dense, stagnant air traps emissions from crops burning in neighbouring states, vehicle exhaust and construction dust.

Here are some details:

• The local government in New Delhi finalises new electric vehicle policy with an outlay of 150 billion rupees ($1.59 billion) over four years to incentivise buyers of electric two-wheelers, cars and small trucks, as well as setting up EV chargers.

• To offer $1,060 as scrapping incentive to those who trade in cars bought before April 1, 2020 for an EV.

• Those buying a battery EV priced at up to 3 million rupees will be exempt from paying road tax and registration fees, which typically amount to 4%-10% of the car's price.

• Buyers of electric scooters and motorbikes will get a cash incentive of 30,000 rupees in the policy's first year, reducing to 10,000 rupees by year three.

• Delhi government will only register electric two-wheelers from April 1, 2028, forcing buyers to move away from gasoline and other powertrains.

• Will also incentivise setting up 32,000 EV charging points across Delhi.

• Hybrid vehicles have not been included in the policy which is expected to come into effect from July 1.

• Policy will provide a big boost to EV players like Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS as well as electric two-wheeler makers TVS Motor TVSM.NS, Bajaj Auto BAJA.NS and Ather Energy.

(Reporting by Aditi Shah; Editing by Susan Fenton)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

June 26 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - SAYS ALL KEY BUSINESS FUNCTIONS OPERATING NORMALLY AFTER JUNE 23 CYBER INCIDENT

Source text: ID:nBSE6CdR0C

Further company coverage: BAJA.NS

(([email protected];))

** Shares of India's Bajaj Auto BAJA.NS fall as much as 2.88% to 9732 rupees, their lowest levels since August 21, 2024

** Stock last down 2.25% at 9803 rupees

** Co says it was hit by a ransomware attack on June 23, affecting certain systems at the company and the unit Bajaj Auto Technology

** Says technical teams and cybersecurity experts responded promptly and successfully mitigated the impact of the incident

** Co says manufacturing operations and supply chain links remain unaffected by the attack

** YTD stock up 4.89%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

June 23 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - UNIT ISSUES AND LISTS 5 BILLION RUPEES NON-CONVERTIBLE DEBENTURES

Source text: ID:nNSEbS2TLD

Further company coverage: BAJA.NS

(([email protected];))

MUMBAI, June 18 (Reuters) - India's Bajaj Auto Credit accepts bid worth 5 billion Indian rupees ($53.00 million) for sale of bonds maturing in three years, three bankers said on Thursday.

It will pay an annual coupon of 8.10% and had invited bids for the issue earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 18:

*Size includes base plus greenshoe for some issues

($1 = 94.3325 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Ronojoy Mazumdar)

(([email protected]))

June 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S MAY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,38,854 UNITS

• SIAM - INDIA'S MAY 3-WHEELER SALES 70,720 UNITS

• SIAM - INDIA'S MAY 2-WHEELER SALES 19,02,209 UNITS

• SIAM - LOWER BASE EFFECT OF PREVIOUS MAY, DEMAND CREATED DUE TO REDUCED GST RATES GETTING REFLECTED IN HIGHER OFF-TAKE THIS MONTH

Further company coverage: ASOK.NS

(([email protected];;))

June 9 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - ORDER SETS ASIDE TAX DEMAND OF 35.2 MILLION RUPEES AND PENALTY OF 3.5 MILLION RUPEES

Source text: ID:nBSE9FxQk6

Further company coverage: BAJA.NS

(([email protected];))

June 8 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTODEALERS BODY FADA: MAY OVERALL AUTO RETAIL SALES ROSE 9.55% Y/Y

• INDIA’S FADA:MAY PASSENGER VEHICLE RETAIL SALES ROSE 23.25% Y/Y

• INDIA’S FADA:MAY COMMERICAL VEHICLE RETAIL SALES ROSE 5.29% Y/Y

• INDIA’S FADA: MAY TWO-WHEELERS RETAIL SALES ROSE 7.54% Y/Y

Source text: [ID:]

Further company coverage: ASOK.NS

(([email protected];;))

Adds details from paragraph 3 onwards

May 22 (Reuters) - Indian automaker Eicher Motors EICH.NS beat quarterly profit estimates on Friday, as last year's tax cuts boosted demand for its high-margin 350-cc motorcycles.

The Royal Enfield Himalayan 450 adventure bike manufacturer posted a near 12% rise in consolidated net profit to 15.2 billion rupees ($158.85 million) for the March quarter from a year ago.

Analysts had estimated a quarterly profit of 14.87 billion rupees, according to data compiled by LSEG.

India's top premium motorcycle maker was the biggest beneficiary of the September tax cuts that lowered duties from 28% to 18% on the 350-cc category, which occupies a large chunk of the company's portfolio.

Its total revenue jumped 16% to 60.80 billion rupees, beating analysts' average estimate of 59.98 billion rupees.

After posting higher quarterly profits, peers Bajaj Auto BAJA.NS, TVS Motor TVSM.NS and Hero MotoCorp HROM.NS are relying on a premium product mix, export expansion and cost controls to cushion higher shipping expenses and commodity prices stemming from the closure of the Strait of Hormuz.

(Reporting by Kashish Tandon and Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair and Shreya Biswas)

(([email protected]; 8800437922;))

May 18 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - BAIH BV REPAYS EURO 80 MILLION LOAN TO JP MORGAN AND DBS BANK

Source text: ID:nBSE7fbx8J

Further company coverage: BAJA.NS

(([email protected];))

Adds details and background throughout

May 15 (Reuters) - India's Ola Electric OLAE.NS will invest $208.5 million in its core vehicle and cell units as the EV bike and scooter maker aims to step up cost cuts and localize manufacturing to achieve profitability amid rising competition.

The SoftBank-backed firm has been grappling with higher operating costs and is seeking to bring them down through automation, job cuts and increasing in-house production of EV cells. The firm also plans to launch a new cost-efficient line of EV two-wheeler models.

The investment is expected to be completed by May 14, 2027, Ola Electric said in a statement.

Last year, the company started manufacturing its own battery cells instead of importing them, a move that it previously said is key to achieving profitability.

In February, it projected lower operating costs by as much as 50% in the coming quarters, after posting a narrower third-quarter loss as it sets its sights on turning profitable. Ola is yet to report its March-quarter results.

Its EV unit posted a revenue of 47.17 billion rupees for the year ended March 31, 2026, while its cell unit posted a revenue of 730 million rupees.

The company, which once commanded half of India's e-scooter market, has lost ground to legacy players such as Bajaj Auto BAJA.NS and TVS Motor TVSM.NS, which widened distribution and rolled out competing models, as well as to rival Ather Energy ATHR.NS.

($1 = 95.9387 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Sonia Cheema)

(([email protected]; +91 9558725583;))

May 14 -

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES UP 25.4% Y/Y -INDUSTRY BODY

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES AT 437,312 UNITS - INDUSTRY BODY

• INDIA'S APRIL TOTAL TWO-WHEELER SALES UP 28.4% Y/Y AT 18,72,691 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY SIAM SAYS THOUGH THERE ARE CONCERNS OF HIGH COMMODITY PRICES DISRUPTIONS IN WEST ASIA, INDUSTRY WITNESSING GOOD DEMAND

Source text: [ID:]

** Auto stocks .NIFTYAUTO rise 5.6% so far this week after Mahindra & Mahindra MAHM.NS, Bajaj Auto BAJA.NS beat Q4 profit estimates

** Mahindra credits tax cut-led demand, capacity additions for profit beat

** Forecasts mid-to-high teens percentage growth in SUV volumes in FY27

** Brokerages cite strong Q4 execution, firm guidance, SUV demand, improving margins as positives for Mahindra, though higher commodity costs may pressure near-term margins

** Bajaj Auto plans to modify more of its motorcycle models to fit premium 350cc segment to capitalise on tax cuts

** Switch to light rare-earth magnets resolved shortages that had threatened co's EV delivery targets last year, CFO Dinesh Thapar says

** Brokerages highlight Bajaj Auto's premium launches, export growth, diversified portfolio as profit drivers

** Flag commodity inflation, domestic demand moderation as key risks

** YTD, NIFTYAUTO down 3%

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** Shares of India's Bajaj Auto BAJA.NS rise 3.04% to 10,633 rupees

** Two-wheeler maker reported fourth-quarter profit and revenue above analyst estimates; Q4 profit climbed 34% y/y

EXPORT MOMENTUM, PREMIUM BIKES DRIVE OPTIMISM

** Goldman Sachs ("buy"; TP: 11,700 rupees) says new premium motorcycle launches and export growth should help offset commodity cost pressures and support margins

** Macquarie ("outperform"; TP: 10,356 rupees) says co well placed to benefit from resilient exports and premium motorcycle demand despite signs of domestic demand moderation

** JPMorgan ("neutral"; TP: 9,780 rupees) says gross-margin-led earnings beat and 100% payout were positives, while sustainability of volume growth and marketing spends remain key monitorables

** Nomura ("neutral"; TP: 10,928 rupees) says strong export momentum and new bike launches remain key growth drivers, but warns cost inflation could pressure margins in near term

** Jefferies ("hold"; TP: 10,500 rupees) says rising commodity prices may weigh on near-term margins, though Bajaj's diversified portfolio should support profitability

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

May 6 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• BAJAJ AUTO - APPROVED RE-DESIGNATION AND APPOINTMENT OF RAKESH SHARMA AS JOINT MANAGING DIRECTOR

Source text: [ID:]

Further company coverage: BAJA.NS

(([email protected];))

Adds details throughout

May 4 (Reuters) - India's Ather Energy ATHR.NS posted a significantly narrower quarterly loss on Monday, supported by strong demand for its e-scooters, particularly its best-selling "Rizta" model.

The Bengaluru-based EV maker reported a loss of 1 billion rupees ($10.54 million) for the quarter ended March 31, down from a loss of 2.34 billion rupees last year.

Here are a few key details:

• The company's sales momentum remained strong, with fourth-quarter volumes surging 76% to a record 83,418 units. This pushed revenue up 73.8% to 11.75 billion rupees.

• Ather has been expanding its presence in northern and central India, banking on the Rizta, a family-focused scooter, to capture a larger share of the market.

• Although an early entrant in India's electric two-wheeler market, launching its 450 series of scooters in 2018, Ather faced intense competition from larger rivals such as TVS Motor TVSM.NS and Bajaj Auto BAJA.NS, which benefit from stronger financial resources and wider distribution networks.

• The company also highlighted challenges, noting that the past fiscal year was affected by multiple supply chain crises. It also expects commodity prices to remain volatile and elevated in the near term due to ongoing geopolitical uncertainties.

• Hero MotoCorp HROM.NS, India's largest two-wheeler maker, continues to hold a 30.14% stake in Ather Energy.

($1 = 94.8737 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru; Editing by Sherry Jacob-Phillips)

(([email protected]))