Corona Curve Turns to Worse for Rajiv Bajaj
Rajiv Bajaj is facing an upheaval in his plant in Waluj near Aurangabad. According to this report by Mint
Rift between Bajaj Auto Ltd and the workers at its Waluj (Aurangabad) plant continues to grow as the number of covid-19 positive cases inch closer to 300 and about 6-8 people have succumbed to the infection thus far
Rajiv Bajaj’s company has underperformed in the stock markets
Bajaj Auto Share Price is up 6% in the last one month, rival Hero Motocorp is up 17%. At last 1 year level, Bajaj Auto is up 3%, Hero is up 9%.
Total sales had fallen 31% in June compared to just 26% for Hero Motocorp. Bajaj did better on Exports with a sales drop of 28%. The Waluj plant is mostly focussed on Exports.
Aurangabad is one of the worst affected districts in the Country
Aurangabad is one of the worst affected districts in the country with 6271 cases for a 2011 population of 3.7 million. 44% of the district’s population live in Urban areas which partly explains the large number of cases. The death rate on completed cases is about 9% which means nearly 1 in 10 reported COVID cases could end up dead.
Read our previous article on Rajiv Bajaj when the first cases of Corona were reported from the Waluj Plant
Pic Courtesy: Rozana