Live bsense Live Volume Todays L/H PlusIndustrialist Rahul Bajaj warned that while additional lockdowns imposed by COVID-19 might not be able to stop the spread of the virus, they will have a significant impact on businesses, employment and the economy.Bajaj Auto Chairman, 83, addressed shareholders as the last time. He also spoke out to be the boss of India Inc., stating that he hoped rapid accelerated vaccinations, coupled with strict enforcement of masks, and social distancing, would soon control the second wave. We should also not respond to the epidemic with more lockdowns like we did last time. These will cause economic destruction, job loss and disruption to the economy. They won't control the spread of the disease.The nationwide lockdown of six weeks that was announced in the second wave of pandemics last year (April to May) saw all the nation's showrooms and automotive factories shut down overnight.Only in the festive season, which was later in 2020, did production and demand return to normal.Following a spike in COVID-19 cases between March 2021 and March 2021, 20 states declared lockdowns to restrict movement.So, businesses were again hit in April and May, before some relief was seen in the second half June.Bajaj Autos average monthly domestic sales of two-wheelers fell to 93.500 units in April and May, as opposed to 151,000 units in FY21.Pune-based Husqvarna makes bicycles under the brands Pulsar Avenger, Avenger KTM, Husqvarna, and KTM. Bajaj Autos Q1FY22 financial results are still to be seen, but the company's net profit fell more than half in Q1FY21 due to the COVID-19 disruption.There is ample evidence that locksdowns have not prevented the spread of the virus. These lockdowns instead create economic uncertainty, threaten daily workers and the poor, prompt unnecessary urban-to-rural migration, and sharply increase fears in an already frightening environment. This will lead to an unmitigated catastrophe, according to the Bajaj Auto annual report.Combining strict safety measures, such as wearing masks and basic social isolation, with an accelerated vaccination program is the solution. Work must be continued, provided that there is basic safety and adequate inoculation. The report added that this is what provides the daily bread, feeds the home, and helps the nation grow.After nearly 50 years of service, Rahul Bajaj, one of the longest-serving chairman in corporate India has resigned.He was made Chairman Emeritus, while his cousin Niraj Bajaj was appointed Chairman. Rajiv Bajaj will remain as the company's Managing Director.This is my last Chairman's letter to you. Bajaj said that although I will not be writing to you again through this forum, you and your company will always remain in my thoughts.
