Bajaj is better than Hero
Bajaj negotiated very high TOT from Kawasaki but had to share a large portion of profit in return.
On the other hand Hero did very basic assembling for Honda aka screwdrivergiri for higher profits.
So when Honda decided to ditch thier looser partner and make it alone Hero were screwed for few years.
Now they are trying to expand in global market using the money they made during Honda honeymoon years since Indian market has become very competitive for Hero to recapture its market share.
Textbook example of how not to run a business.