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We had predicted that "Bajaj Auto Ltd. is bound
to enter in turbulent waters from 7th Dec.'96 onwards.
This turbulence in it's fortunes is indicated till the end
of period under scrutiny, i.e. 31.03.97. Worst period may
be the first fortnight of January'97, with centre of
gravity around 4th & 5th January'97". |
"Economic Times" dated 15th May 1997,
published a statement of Mr.Rahul Bajaj
(Chairman, Bajaj Auto Ltd.). Some excerpts from his
statement are as follows:
- "The industrial growth was quite
satisfactory in the first half (of 1996-97). But
it fell in the second half. It is difficult to
pinpoint the reason for the decline."
- "The liquidity problem in the second
half was not worse than what it was in the
corresponding period of '95-96. Similarly,
interest rates were not higher than those in the
first half of the year or in the second half of
the previous year. Hence, there must be some
other reason. It could be political uncertainty.
But even the political uncertainty began after
February'97."
- "I had to cut down production plans for
two-wheelers." |
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