Rajiv Bajaj criticised as Bike Plant affected by Corona
Rajiv Bajaj made a controversial statement a few weeks ago
A draconian lockdown flattened the wrong curve as it decimated the GDP and economy
As Rajiv Bajaj waded into the lockdown decision, many supporters of PM Modi were deeply upset not just due to the comments but because these comments were made in a conversation with Rahul Gandhi
How is Rajiv Bajaj’s Company Performing?
Bajaj Auto Sales had plunged 70% in May while the stock price is down 9% year to date (NIFTY is down 15% year to date)
The Waluj plant that was affected is focussed on Exports. While Bajaj was struggling in the domestic market on account of Corona Lockdown, exports had fallen only by half. Bajaj sold 94000 two wheelers internationally in May.
Today there was news that Bajaj Auto’s Aurangabad factory had to be shut due to mass corona cases
This led to a spate of comments from right wing twitter handles questioning the wisdom of Mr. Bajaj’s comments early this month
Rishi Bagree, a prominent Right Wing Handle asked Mr. Bajaj if he now understood why the lockdown was imposed
Mr. Siddharth Shirole, MLA from Pune Shivaji Nagar pointed out to the Bajaj situation and laid out reasons why a Lockdown was necessary
Other supporters of PM Modi were upset with Rajiv Bajaj
In the meanwhile Bajaj Auto announced that the Waluj Plant continues to function.
So far, unlock-1 has been quite tough for India. 3 Lakh cases were added in the first 25 days of June. This is double of what was added in the whole of May. We have 5 more days to go in June. While there has been intense criticism of Rajiv Bajaj, the reality is that the economy is in serious trouble and unless businesses return to normal quickly, many livelihoods could be lost forever!
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