You are here: Home » Markets » News
Business Standard

Bajaj Consumer hits 52-week low after promoter stake sale

On Tuesday, Bajaj Resources had offloaded 10.1 million shares, representing 6.85 per cent stake, in Bajaj Consumer Care for Rs 320 crore

SI Reporter  |  Mumbai 

Bajaj Corp to step up focus in personal care

Shares of (formerly Bajaj Corp) hit a 52-week low of Rs 308, down 3 per cent on the in intra-day trade on Wednesday, after the promoter sold nearly 7 per cent of its holding via open market on Tuesday. The stock had tanked 9 per cent to Rs 317 yesterday.

On Tuesday, had offloaded 10.1 million shares, representing 6.85 per cent stake, in for Rs 320 crore. The promoter sold shares at the price of Rs 316.42 per share on the BSE, the bulk deal data shows.

ICICI Prudential Mutual Fund had purchased 900,376 shares or 0.61 per cent holding in the company at a price of Rs 314.80 per share, data shows. The name of the buyers and sellers were not ascertained immediately.

As of December 31, 2018, hold 66.86 per cent stake in Bajaj Consumer Care, of which 70.42 per cent holding was pledged with the lenders.

In past two months, the stock underperformed the market by falling 20 per cent against 5 per cent rise in the S&P

At 11:28 am, was trading 4.5 per cent higher, recovering 7 per cent from its intra-day low on the A combined 6.76 million equity shares changed hands on the counter on the BSE and so far.

First Published: Wed, March 13 2019. 11:32 IST
RECOMMENDED FOR YOU