Bajaj Auto shares gain on hopes of quadricycle launch

Bajaj Auto shares rose nearly one per cent on Tuesday on hopes that the Supreme Court will give a positive verdict on the launch of quadricycles in the country.

Traders said a favourable verdict would help the auto major recover some of lost sales. Bajaj Auto's February vehicle sales were down 22 per cent year-on-year.

Shares of Bajaj Auto jumped 1.7 per cent intra-day before settling the day 0.75 per cent higher at Rs 2,128.95.

The company has invested Rs 5.5 billion and created the capacity to produce 5,000 quadricycles a month at its Aurangabad plant in Maharashtra.

A company spokesman was not immediately reachable for comment.