Bajaj Corp gains after board approves proposal to hike FII investment limit

Bajaj Corp rose 2.39% to Rs 359.50 at 11:15 IST on BSE after the company said its board approved a proposal to hike the foreign institutional investors investment cap to 49% stake in the paid-up equity capital of the company.

The announcement was made after market hours yesterday, 30 December 2014.

Meanwhile, the S&P BSE Sensex was up 81.89 points or 0.3% at 27,485.43.

On BSE, so far 30,000 shares were traded in the counter as against average daily volume of 19,000 shares in the past two weeks.

The stock hit a high of Rs 367.20 and a low of Rs 357 so far during the day.

Bajaj Corp's net profit rose 3.9% to Rs 37.44 crore on 18.6% growth in net sales to Rs 187.61 crore in Q2 September 2014 over Q2 September 2013.

Bajaj Corp is an FMCG company with major brands in hair care category. The company's product portfolio includes Bajaj Kailash Parbat Thanda Tel, Bajaj Almond Drops Hair Oil, Bajaj Brahmi Amla Hair Oil, Bajaj Amla Shikakai Hair Oil and Bajaj Jasmine Hair Oil.

Powered by Capital Market - Live News