Bajaj Hind up on FCCB move
The Bajaj Hindusthan scrip rose 6.6 per cent to Rs 159.65 on announcement that the company has repurchased foreign currency convertible bonds (FCCBs) worth $17.93 million for cash at a discount. A total of $119.5 million was outstanding prior to this. After purchase and cancellation, the total outstanding FCCBs will be worth $101 million.
The stock opened at Rs 151.95 and made an intra-day high of Rs 162 and a low of Rs 147.6. Total trading volumes stood at 17.6 lakh shares as against the two-week average activity of 12.1 lakh shares. The scrip made a 52-week high of Rs 480.45 and a low of Rs 135.