Comments
Shares of Bajaj Consumer Care zoomed 20 per cent on Wednesday after Bajaj Resources, a promoter of the consumer goods firm, offloaded around 22 per cent stake in the company.
The scrip jumped 20 per cent to ₹234.65, its upper circuit limit on the BSE. On the NSE, it advanced 19.17 per cent to ₹242.70.
Bajaj Resources on Tuesday offloaded around 22 per cent stake in the company for ₹628 crore through an open market transaction. As per exchange data, Bajaj Resources sold 3,22,65,100 shares representing 22 per cent equity stake of Bajaj Consumer Care at an average price of ₹194.56.
Bajaj Resources held 59.9 per cent stake in Bajaj Consumer Care at the end of September quarter. A host of fund houses, including Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Steinberg India Emerging Opportunities Fund, were among the buyers of the shares.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.