Bajaj Auto shares jumped more than 8% this week. The positive sentiment comes from the Union Cabinet’s approval of the PM E-Drive scheme, which would cost Rs 10,900 crore over two years to bolster the use of electric vehicles (EVs) in India.
The scheme provides subsidies of Rs 3,679 crore to encourage the use of battery-powered two and three-wheelers, ambulances, trucks and other new electric vehicles.
Bajaj Auto develops, manufactures and distributes automobiles, including motorbikes, commercial vehicles, electric vehicles (EV) and their spare parts.
Stock Performance on Friday
– Open: ₹11,723.50
– High: ₹11,893.95
– Low: ₹11,688.40
