Family settlement by September: Rahul Bajaj

Then, with the nextgen of Bajaj Auto — brothers Rajiv and Sanjiv — sitting on the dais with him and the board of directors — Bajaj spoke of the Ambani siblings. ‘‘The day the split happened, I called up both Anil and Mukesh and told them ‘I wish you mend your personal relations though it may take time’.’’

Giving credit to Shishir’s elder son, Kushagra (CEO of Bajaj Hindusthan), for turning around the company — ‘‘it has grown more in the last three years under him than it has in the past 30 years taking the scrip from Rs 67 to Rs 1,600 (before the stock split)’’ — Bajaj said both sides are very keen to end the dispute and reach a settlement.

‘‘Unlike Reliance whose share prices went down, our respective share prices have done well [Bajaj Auto is trading at Rs 1,388] based on performance, growth prospects… and the dispute has had no effect on either company.’’

Speaking at the AGM today, he said, ‘‘the entire effect is on us, the promoters.’’

Bajaj Auto’s Q1 profits up 28%

: Laying out the roadmap for the Rs 6,500-crore Bajaj Auto at his first AGM as MD, Rajiv Bajaj said the company will launch a sub-400 cc bike, and three new scooters over the next 2 years. The company reported a 28 per cent jump in profits in the first quarter of 2005-06 to Rs 210 crore, thanks to a 30 per cent jump in sales.