BAJAJ AUTO TO LAUNCH 1ST CNG BIKE THIS YEAR:
Bajaj Auto is making headlines with its development of the world’s first CNG-powered motorcycle, originally slated for launch next year. However, the company’s managing director, Rajiv Bajaj, has revealed that they are advancing the launch to the next quarter, as reported by CNN-News18.
According to Rajiv Bajaj, the CNG-powered bike has the potential to be fantastic for the environment. He referenced Hero Honda’s strategy of doubling mileage or halving the cost of fuel for citizens as an inspiration.
Despite the excitement surrounding the CNG bike, Bajaj cautioned against high expectations, indicating that there will be only one launch this year. He emphasized the company’s focus on getting ‘the basics’ right.
In other news, Bajaj Auto’s total two-wheeler sales for the month rose by 25% to 294,684 units, according to Reuters.
Additionally, Bajaj Auto recently announced that it has invested an additional ₹45.75 crore in the electric bike-sharing platform Yulu Bikes. Following this investment, Bajaj Auto’s shareholding in Yulu Bikes now stands at 18.8% of the paid-up equity share capital of the electric bike-sharing platform, as per a regulatory filing by Bajaj Auto.
GOLD PRICE AT RECORD HIGH: Gold price hits record high, RS. 67,400 ON FRIDAY
The recent geopolitical tensions and the ongoing conflict in Ukraine have also fueled the demand for gold as a safe-haven asset. Investors view gold as a reliable store of value during times of geopolitical instability, as it tends to retain its worth even when other assets falter.
Furthermore, central banks around the world have been increasing their gold reserves, adding to the overall demand for the precious metal. This trend is driven by a desire to diversify reserves and reduce exposure to the risks associated with other currencies and assets.
The supply side of the equation is also a factor in the rising gold prices. Gold production has been relatively flat in recent years, with few major new discoveries. This limited supply growth, coupled with increasing demand, has put upward pressure on prices.
In conclusion, a combination of economic uncertainty, geopolitical tensions, and supply constraints has contributed to the recent surge in gold prices. These factors have led investors to view gold as an attractive investment option, driving demand and pushing prices to new record highs.
TATA MOTORS DEMERGER:
The demerger of Tata Motors into two separate entities is seen as a strategic move that could unlock value for shareholders. By separating the commercial vehicle and passenger vehicle businesses, Tata Motors aims to provide greater clarity and focus to each business segment, allowing them to pursue their growth strategies more effectively.
The decision to demerge comes at a time when the automotive industry is undergoing significant transformation, particularly with the shift towards electric vehicles and the increasing focus on sustainability. By creating a separate entity for its electric vehicle business, Tata Motors is positioning itself to capitalize on the growing demand for electric vehicles globally.
The demerger could also have positive implications for Tata Motors’ stock price, as it could lead to a re-rating of the company’s valuation. The passenger vehicle segment, in particular, is expected to attract a higher valuation post-demerger, given the potential for growth in this segment.
Overall, the demerger of Tata Motors is seen as a positive development that could benefit the company and its shareholders in the long run. It reflects the company’s commitment to creating value for its stakeholders and positioning itself for future growth in the rapidly evolving automotive industry.
RBI IN ACTION: RBI BARS JM FINANCIALS PRODUCTS FROM FINANCING AGANTS SHARES, DEBENTURES; DETECTED SERIOUS DEFIENCIES IN LOANS FOR IPO FINANCING STOCK 20% CRASHED NEXT DAY:
The Securities and Exchange Board of India (Sebi) conducted a routine examination of JM Financial and found issues related to non-convertible debentures (NCDs) floated by Piramal Enterprises in 2023. Although Sebi did not explicitly name the issuer, details provided in Sebi’s order indicate that the NCD issue in question was by Piramal Enterprises, as reported by Financial Express.
In November 2023, Piramal Enterprises raised Rs 533 crore through the NCD issue, which had a base issue size of Rs 200 crore and a green shoe option of up to Rs 800 crore, totaling Rs 1,000 crore. The merchant bankers for the issue were JM Financial, AK Capital Services, Nuvama Wealth Management, and Trust Investment Advisors. The issue opened on October 19, 2023, and closed on November 2, 2023.
As a result of its findings, Sebi has prohibited JM Financial from acting as the lead manager for any new debt public issue. However, JM Financial is permitted to continue as the lead manager for existing debt public issue mandates for another 60 days (approximately 2 months). JM Financial has been given 21 days (approximately 3 weeks) to file its reply or objections, including the option of a personal hearing. Sebi will also conduct an investigation into these issues, with a deadline of six months for completion.
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