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Bajaj Auto-KTM to launch electric two-wheelers
Posted on 3rd June 2019
Bajaj Auto has joined hands with Austrian sports bike maker KTM Industries to manufacture electric two-wheelers vehicles in the power range of 3 to 10 kW (48 volt). Under this partnership, Bajaj Auto and KTM will support different product variants - scooters, mopeds, small mopeds - under brands of both partners.

The production of Bajaj Auto and KTM electric two-wheelers will start at Bajaj's Pune plant by 2022.

Meanwhile, KTM Industries said that "the possibility of transferring Bajaj's 48% stake in KTM AG to KTM Industries AG are not being further pursued for the time being. The successful cooperation with the Bajaj-Group, which has existed since 2007, will thus continue unchanged at the level of KTM AG."

In the European market, KTM increased its market share to 12.3% with a registration increase of 22%.

Meanwhile, Bajaj-Auto’s sales for the month of May increased 3% to 419,235 from 407,044 (year-on-year). Shares of Bajaj Auto today were up 4% in noon trade.

Bajaj Auto reported a 21% jump in net profit to ₹1,306 crore for the quarter ended March 31, 2019. It was aided by a one-time gain of ₹342 crore. Revenues from operations rose 9% to ₹7,395 crore as compared to ₹6,788 crore in the same quarter of the previous year.

Related Companies: Bajaj Auto Limited   

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Ex-Delhi CM and Congress leader Sheila Dikshit passes away at 81
Posted on 20th July 2019
Former chief minister Sheila Dikshit passed away on Saturday, hours after she was admitted to Fortis Escorts hospital in New Delhi.

Three-time Delhi chief minister from Congress, Dikshit was brought in the morning of July 20 to Fortis Escorts Heart Institute, Okhla, in a critical condition with a cardiac arrest," the hospital said in a statement.


Punjab CM Amarinder Singh accepts Navjot Singh Sidhu’s resignation
Posted on 20th July 2019
Punjab Chief Minister Amarinder Singh on Saturday accepted the resignation of Navjot Singh Sidhu from the Cabinet.

“Captain Amarinder Singh has accepted Navjot Singh Sidhu’s one-line resignation and forwarded the same to the Governor,” said an official spokesperson.


Raghuram Rajan signals Brexit politics deterred him from seeking BOE job
Posted on 20th July 2019
Former Reserve Bank of India governor Raghuram Rajan has indicated the political challenges posed by Brexit were the reasons he didn’t apply to head up the Bank of England.

In an interview with the BBC, Rajan confirmed he hadn’t sought the position and cited the fact that central banking “has become much more political in recent times” as an explanation for why not.


Several states get new Governors, Anandiben Patel transferred to UP
Posted on 20th July 2019
The government Saturday transferred two governors and made fresh appointments in some states.

Former interlocutor on Naga talks R N Ravi has been appointed as Nagaland governor, according to a Rashtrapati Bhavan communique.


RIL Q1 net up 7% at Rs 10,104 crore; Jio, retail boost revenues by 22%
Posted on 20th July 2019
Reliance Industries Ltd (RIL) on Friday reported a 6.8 per cent increase in its net profit at Rs 10,104 crore for the quarter ended June this year on the back of a record 22 per cent jump in revenue at Rs 1.72 trillion.

Consumer businesses contribute 32 per cent of the consolidated segment gross earnings (or earnings before interest, taxation, depreciation, and amortisation, or Ebitda) for the quarter.


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