Shares of Bajaj Auto touched a more than two-year high of Rs 4,249.05, up 2% on the BSE in intraday trade on Wednesday. Shares of the two-wheeler/three-wheeler company climbed for an eighth straight session, gaining 12%. It is within inches of an all-time high of Rs 4,361 hit on February 4, 2021. In contrast, the S&P BSE Sensex rose 0.12% to 60,237 at 11:27 am.

In a regulatory exchange filing dated Monday, April 11, Bajaj Auto informed that the company and Triumph Motorcycles had successfully transferred Triumph’s Indian sales and marketing operations to Bajaj Auto. The two companies previously announced a strategic partnership in 2020, with both confirmed to work together on a new range of mid-size Triumph motorcycles.

This kicks off the next partnership phase, effective April 1, 2023, with all 15 Triumph Motorcycle dealerships currently in operation to be managed by Bajaj Auto.

This is the company’s third partner, besides KTM and Husqvarna, to produce higher CC bikes at its Chakan factory, which has an annual capacity of 1.22 million units. Under the partnership, Bajaj Auto will co-develop a new product in the mid-size category to be marketed under the Triumph badge and make more premium CC bikes for Triumph.