 "Bajaj Auto promoter acquires shares worth Rs 60 crore")
Bajaj Auto Employees Welfare Fund, a promoter entity of Bajaj Auto, today acquired over three lakh shares of the two wheeler major for nearly Rs 60 crore through open market trade.
As per the block deal information available with the BSE, Bajaj Auto Employees Welfare Fund bought 3,07,120 shares of Bajaj Auto from various entities including the company's promoters -- Bajaj Sevashram and Jamnalal Sons.
Shares of Bajaj Auto were purchased at an average price of Rs 1,946 apiece valuing the transaction at Rs 59.76 crore.
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At the end of July-September quarter, the Fund held 18.29 lakh shares of Bajaj Auto amounting to 0.63% stake. Jamnalal Sons and Bajaj Sevashram held 8.97% and 1.56% respectively.
Bajaj Auto had reported a decline of 14.69% in motorcycle sales at 2,78,703 units last month. It had sold 3,26,727 units in November last year.
In the commercial vehicles category, the company said its sales stood at 31,888 units as against 45,566 units in November last year, a decline of 30%.
Bajaj Auto scrip was up 1.91%, settling at Rs 1,981.35, on the BSE.