Bajaj Auto shares rise nearly 3% on partnership with Triumph Motorcycles

Key highlights:

• Bajaj Auto and Triumph Motorcycles enter into global partnership
• Shares of Bajaj Auto went up by nearly 3%
• Partnership will enable Triumph to significantly expand its global reach

Bajaj Auto and Triumph Motorcycles announced that they are entering into a new global partnership. The companies will enter into a non-equity partnership to expand their reach in emerging markets.

The shares of Bajaj Auto were up by nearly 3% after the announcement of the deal. Bajaj Auto shares rose up by 2.89% or Rs 83.60, at Rs 2,973,60 per piece 12:47 hours on BSE. On NSE it was up by 2.51% or Rs 72.40, at Rs 2,961.65 per piece at 12:49 hours.

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The objective of this non-equity partnership is to deliver a range of outstanding mid-capacity motorcycles benefiting from the collective strengths of both companies, Bajaj Auto said in a statement.

“We hope to bring to bear upon global markets the individual strengths of the partners including brand position and perception, design and development technology, quality and cost competitiveness, and worldwide distribution,” said the company.

Bajaj Auto's bikes just became cheaper thanks to GST