What's more, the rough journey is likely to continue for a while with the automaker announcing production cuts. According to an Economic Times report, Bajaj Auto is expected to cut production up to 25% in two-wheelers and three-wheelers. Little wonder, shares of the automaker fell by 5.5% on Monday, a day when the Nifty 50 index was down by 0.4%.
Bajaj has the capacity to produce 550,000 units every month. In March, it is expected to produce 250,000-270,000 units versus a monthly average production of 338,000 units for the nine-month ended December.
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