In May 2023, the company’s domestic sales of passenger vehicles stood at 45,878 units.
The government announced that from June 1 subsidy will be reduced to 15%.
According to Aditya Birla Capital Ltd., the preferential issuance would take place at a cost of Rs 165.1 per equity share and is pending approval from shareholders.
Company’s domestic sales of Small Commercial Vehicles (LCV<3.5T) stood at 19,053 units.
The company’s domestic wholesales stood at 19,379 units in May 2023.
The floor price for the two-day OFS is set at ₹225 per share.
Total two-wheeler sales stood at 3,07,696 units last month.
Recommendation: Add; Target Price: Rs 165
The company has recently launched a new brand under name “Nex” to target upscale urban consumers with its premium range of appliances.
Bajaj Auto (+2.40%) is the top gainer on NSE in today’s trade.