September 7, 2018 / 4:39 AM / in 18 days

BUZZ-India's Bajaj Auto hits 7-wk high on plans to expand 3-wheeler capacity

** Bajaj Auto Ltd rises as much as 3.3 pct to 2,874 rupees - its highest in seven weeks

** Co plans to expand its 3-wheeler (3W) & quadricycle capacity to 1 mln per year following a govt decision to exempt all alternate fuel vehicles from getting permits, it said on Thursday

** Bajaj Auto to be biggest beneficiary from abolition of permit requirement as it commands 86 pct market share in alternate fuel 3W segment, Abhishek Jain, analyst at HDFC Securities, says in a note

** Stock top pct gainer on Nifty 50 index, which is down 0.14 pct as of 0430 GMT

** As of last close, stock down 16.51 pct this year

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