Bajaj Auto ties-up with Renault for engines

Bajaj Auto gained 1.19% to Rs 500.05 at 11:39 IST on BSE on reports the company will form a joint venture with Renault for engines and transmissions later this month.

The stock hit a high of Rs 508 and a low of Rs 482.05 so far during the day. The stock had a 52-week high of Rs 945 on 26 May 2008 and a 52-week low of Rs 395 on 3 July 2008.

The company has an equity capital of Rs 144.68 crore. Face value per share is Rs 10.

The current price of Rs 500.05 discounts its Q1 June 2008 annualised EPS of Rs 48.41, by a

PE multiple of 10.33.

Bajaj Auto reported a net profit of Rs 175.11 crore on net sales of Rs 2310.76 crore in Q1 June 2008. Figures of the corresponding previous year period were not available.

Bajaj Auto, is ranked as the world’s fourth largest two- and three- wheeler manufacturer and the Bajaj brand is well-known in over a dozen countries in Europe, Latin America, the US and Asia.