The stock soared to a high of Rs 1,087, up 6.6% from the previous close. It finally ended at Rs 1,064, up 4.5%. Around 29,266 shares changed hands at the counter on the BSE today.
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(Updated at 1159 hrs)
Bajaj Auto has gained 3% on plans of raising its stake to around 50% in KTM.
The stock has opened at Rs 1,029 and rallied to a high of Rs 1,051. The scrip is now currently trading at Rs 1,046, up around 3%. The counter has witnessed trades of 6,409 shares on the BSE so far.
The company plans to increase its stake in Austria’s power bike company KTM Power Sport AG in the coming years to around 50% to bank on the firm's superior expertise in technolology and brand name.
The company has has so far spent Rs 700-800 crore in buying nearly 32% stake in KTM.